Endowment plan is a life insurance policy which provides you with a combination of both i.e.: an insurance cover, as well as an savings plan. It helps you in saving regularly over a specific period of time, so that you are able to get a lump sum amount on policy maturity, if the policyholder survives the policy term.

Endowment policies cover the insured for a specified period. Thus, the insured has the option to insure himself till he wishes to be insured. Upon the death of the insured (during the term of the policy), the nominee receives the sum assured plus the bonus, if any. Bonus is paid for the number of years the policy was in force. Upon maturity, the insured receives the sum assured plus the bonus for the term of the policy, if any. Thereafter, the insured is not covered by the policy. Endowment policies are broadly classified into two types - Endowment - Without profit and Endowment - With profit.

The policyholder gets his/her sum assured on a fixed date in future as per the policy terms and conditions. However, in case of sudden death of the policyholder, the insurance company will pay the sum assured (plus the bonus, if any) to the nominee of the policy. Besides, it is also useful to secure yourself or your family post-retirement or to meet various financial needs such as funding for children's education and/or marriage or buying a house.

You always needed protection but what if you are provided with an alternative that offers an opportunity for savings and wealth accumulation as well? Friend Digital 24 Classic Endowment Plan can help in fulfilling these requirements. Friend Digital 24 Classic Endowment Plan is a long term protection cum savings plan that offers protection benefit while earning Bonuses during the policy term.