What is an Endowment Policy in Insurance?

An endowment approach may be a combination of saving together with risk cover. This sort of arrangement is extraordinarily designed to accumulate up to build up wealth and at the same time cover your life. In this sort of arrangement the insured will pay a customary premium for a specific time period. And in case of death amount will be paid to the recipient but, in case you outlast the policy tenure, you'll get the whole guaranteed alongside the gathered bonus.