Sentences with phrase «endowment policy ensures»

Available to anyone, in the age group of 8 - 59 years, this limited premium paying endowment policy ensures both death and maturity benefits for the policyholders and their nominees.

Both ULIPs and endowment policies ensure that the policy - holder develops a regular saving habit.

Not exact matches

Saving for the future: An endowment policy, in particular, ensures that the policy - holder saves regularly over a specific period of time so that they will receive a lump sum amount on the policy maturity in case they survive the policy term.

If you're using the policy to grow cash in a tax deferred manner, you'll want to use a trained agent to build a custom policy for you to ensure you're gains are not eaten entirely with policy fees, as well as to avoid a modified endowment contract (MEC) if you're over funding.

If the maximum amount of the premium is exceeded, the policy turns into a modified endowment contract (MEC) which ensures the death benefit with investment returns but withdrawals of the cash value are subject to taxes as ordinary income.