3.Endowment life policy

ndowmnt policy pays the polics amount if the insured dies but it also pays th policy amount
if the policy holder survies until the term of policy.
a.Pure endowment policy
Under pure endowmnt policy, the amount is paid to the insured if he/she survives to the end
of policy period.Th policy amount is not payable if if the insured diees before the policy period.
pure endowment policy is i9ssud for the benefit of policyholder. It is a kind of compulsory saving
for old age and is not intended for the bnfit of dependet.
b.Double endowment policy
doubl endowment policy calls for payment of double of the inmsured sum to the insured prson if he/
she lives until policy matures. This policy is benefical to those person who is confident of living long
but would like to have some coverage for dependent in the event of early death.
c.Deferred endowment policy
With deferred endowment policy, the policy am,ount is paid only after th expire of policy period
regardless of wheatr the insurd person dies bfore maturity. This types of policy is offred to the
benefit of person who desires to have money at the time of children's,marrage,higher education
and at th time of any other family events requiring large of money.
d.Anticipated endowmnt policy
 Under anticipated endowment policy a part of insured sum is paid at certain intervals say the
end of each years for a 15 years policy and the balance of sum is paid at maturity. This type
of endowment policy is popularly called money back policy.