Insurance companies says that you can achieve higher savings returns from endowment, that it is a long term savings strategy. Are they as what they touted to be?

Insurance savings plans or Endowment plans are plans designed by insurance companies with an objective to provide and meet long term saving goals.

The assured (in this case you, or someone) pays the insurance company a fixed sum of money monthly, quarterly or yearly, or a one time amount.

The insurance company will:

Return you a sum of money upon maturity, which could be 15, 20 or 30 years. This is getting less common. Most insurance savings plans are more flexible.

Some endowment plans are designed to pay out after certain duration. (see above graphics as example)

An annual cash flow insurance endowment plan

Some endowment plans after the first few years will pay out an annual cash flow to the …