Savings Plan: Types of plans

Savings Plan comes in several forms. Understanding the differences helps you choose the structure that fits your life stage and budget.

Type	What it means
Endowment plan	Lump sum at maturity with life cover during the term.
Money-back plan	Periodic payouts through the term plus a final payout.
Guaranteed income plan	Fixed income stream for a defined period after a premium-paying term.
Guaranteed addition plan	Adds a stated amount each year to the maturity benefit.
ULIP	Market-linked savings with life cover and a five-year lock-in; value can go up or down.
Child savings plan	Built for education and milestones, often with premium waiver on the parent’s death.

Not sure which suits you? Take our two-minute needs quiz or talk to us.