Insurance Savings Plan (Endowment Plan)
Commonly marketed as Insurance Savings Plan, getting an Endowment Plan are commonly being marketed to help Singaporeans save.
A total number of 239,487 Endowment Insurance policies were sold during the year ended 31st December 2016. Endowment accounts for 48.8% of annual premiums in the industry for non-linked policies. This is despite non-linked Endowment policies only accounting for 16.2% of the number of policies sold in the year 2016. For linked Endowment policies, it accounts for 22.6% of linked policies sold and account for 11.4% of annual premiums. TL;DR: Get an Endowment only after you have settled the rest of your insurance planning Basics Types Of Endowment
Endowment Policies are usually categorised into 3 different types:
Types of Endowment What does it mean? Participating
(par) Upon the death of the policy holder, the sum assured plus any accumulated bonuses will be paid out. Non-participating
(Non-par) Upon the death of