Understand the trade-off between pure protection and protection-plus-savings.
What each one does
Term pays only if you die during the term. Endowment pays on death and also gives a maturity amount if you survive.
The price of the maturity benefit
Endowment premiums are many times higher for the same cover, because part funds the savings component.
A common approach
Many families buy a term plan for protection and invest separately for goals. Others prefer the discipline of a guaranteed plan.
How to decide
Ask what each rupee of premium buys: how much cover, and what return on the savings part.
Key takeaway. Make sure protection is adequate first; then choose savings tools that match your risk comfort.
General information only; not personal advice. Rules and limits change, so verify current details. Last updated October 2026.