What is endowment insurance plan of LIC?

[samkapoor77]

What is endowment insurance plan of LIC?

[samkapoor77]

Endowment insurance policy of LIC promises to pay a lumpsum amount after the death of a person or at the time of the maturity of policy. It lasts for ten to twenty years depending on the person who has taken the policy for him. Sometimes, endowment policy also promises to pay at the time of major illness of a person to use the amount in his treatment. There are many endowment policies namely Unit linked endowment, low cost endowment, complete or full endowment and other profit endowments.

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