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GENERAL PROVISION AIICO Plaza Plot PC 12, Churchgate Street, Victoria Island, P.O. Box 2577, Lagos, Nigeria 0700 AIIContact (0700 2442 6682 28) www.aiicoplc.com aiicontact aiicoplc.comFLEXIBLE ENDOWMENT.

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Endowment plans may be good for people who want to use them to fund certain savings goals. But compared to other types of life insurance, endowment plans have higher premiums, and you may see lower rates of return on the investment portion of the policy.

One of the best endowment policy benefits is the tax exemption it brings. You can claim the tax exemption under Section 80C for the premium paid, and the sum assured received is tax-free under Section 10 (10D). Hence, it is a win-win situation.

Drawbacks of endowment life insurance High premiums. Premiums for life insurance with endowment tend to be higher than those for other types of insurance coverage, including permanent insurance with a cash value component. ... Limited protection. ... Low returns.

Endowment plans are a good investment tool. These plans are beneficial since this is a long-term plan and offers good returns over a long period. One of the major benefits of an endowment plan is that it provides an option to invest money in a disciplined and well-organized way to fulfill financial requirements.

If you want your family to have a high amount of finances in your absence, a term plan would be more suitable for you. But if you want to grow your wealth yet not compromise on getting an insurance cover, you can get an endowment plan.

An endowment plan is a life insurance plan that offers a life cover* and helps you grow your money. It provides returns that are fixed at the time of the purchase of the policy. It can be used to save for various goals like buying a house, your child's education or marriage, starting a new venture and more.

An endowment policy works as a hybrid type of plan that combines an investment component with insurance coverage. This is the reason why most plans are sold by insurance companies. In an endowment plan, a portion of the premiums goes towards a policyholder's life insurance, while the rest is allocated for investment.

Listed below are five different types of endowment plans that you can choose from as per your financial requirements and circumstances: Unit Linked Endowment Plan. ... Guaranteed Endowment Plan. ... Full/With Profit Endowment Plan. ... Low-cost Endowment Plan. ... Non-profit Endowment Plan.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232