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Endowment Plans
Endowment life insurance is an insurance product that can double up as a regular savings plan. This can then be used, for example, to send a child to college or University. An endowment policy is set up as a regular savings plan, and at the end of a set period, it will pay out a lump sum. The policy incorporates life insurance, so in the event that the policyholder dies in the meantime, the policy will pay out on death.
If you choose an endowment plan, you will have the flexibility to choose your monthly premium and the period the policy must cover. You can work out the monthly premium you want to pay, based on how much cash you will eventually need.
At Continental, we are happy to advise on the best endowment plan to meet your needs. We can suggest solutions that match your target lump sum and date.
If you are saving a cash amount, your Continental adviser will calculate the monthly contributions required to reach your desired pay-out, and then help you select an endowment plan. The cash sum is paid at maturity, or on death during the term if the policy is in force.
You may choose an endowment plan for a general investment or a specific savings goal. The advantage is that if anything happens to you during the term, your beneficiary still receives the cash payout.
You make monthly or annual payments. Part of each payment buys life insurance. The rest is invested. Your return depends on how the investment performs and on the policy terms.
Your policy is designed to pay a defined amount if held to the end of the term, or on death during the term. Markets can go down as well as up, and benefits depend on the policy staying in force. Your Continental adviser will explain how the terms apply to you.
No matter your circumstances, if you’re looking for a reliable life insurance policy to protect your loved ones, Continental Group has the ideal solution for you. Our life insurance offerings are comprehensive, diverse, and designed to meet your financial needs. With policies that account for every situation, we ensure that those closest to you are well-protected. For instance, the average cost of life insurance in UAE for a $100,000 lump sum is just $7 a month – providing peace of mind that is truly invaluable.
