Endowment plans are one of the most popular investment options in India. Several endowment plans are available in the market, and it can be difficult to decide which plan is right for you. This blog post will discuss one of the best endowment plans you must invest in. So, if you’re looking for an endowment plan to invest in, then read on!
Which is the Top Endowment Plan you Must Invest In?
There are various endowment and savings plans in the market, each with its own benefits. However, not all endowment plans are suitable for everyone.
It is important to understand your needs and choose an endowment plan that best suits you. Kotak Assured Savings Plan is one of the top endowment plans in the market. For the first five years of the policy, it offers guaranteed additions at a certain percent of the sum assured.
Along with this, it has an option of a continued bonus that offers a higher return on investment. This makes it an ideal choice for long-term savings. If you must fulfil your dreams, then this is the best endowment plan to invest in.
Key Features of Kotak Assured Savings Plan
Here are the main features of the endowment plan
1. Guaranteed Additions
The guaranteed additions are a bonus the policyholder receives over and above the assured sum. This addition is calculated as a percentage of the sum assured and is paid out at maturity or on death, whichever is earlier.
2. Offers Bonus from 6th Year of Policy Period
There are great possibilities that you will get a bonus from the insurance company if you continue your policy for at least six years. The bonus is generally declared as a percentage of the sum assured, accumulating until the end of the policy term. If you surrender the policy before the completion of six years, then no bonus is payable.
3. Multiple Premium Payment Term Options
One of the key benefits of investing in an endowment plan is that you can choose how long you want to make premium payments. Depending on the insurer, most plans will allow policyholders to make payments for as short as five years or up to 15 years.
The Bottom Line
The best endowment plan for you is always the one that meets your financial needs and goals. Investing in Kotak Assured Savings Plan is an excellent choice for those looking for long-term financial security.