Are you looking for the best Endowment Plans in August 2020 to earn a higher interest rate than fixed deposits? Endowment plans are life insurance saving plans that are offered by insurance companies. The aim is to help policyholders save towards specific financial goals. Policy holders can contribute a regular amount for a designated period of time or pay a lump sum upfront at the start of the policy.
Upon maturity of the policy, you will be given a lump sum payout with the guaranteed return. It is best to study the plan carefully as certain endowment plans offers non-guaranteed returns.
Last month, I have shared 3 short term Endowment plans which are the NTUC Gro Capital Ease, Tiq 3-Year Endowment Plan and China Taiping i-Save Plan. Both the NTUC Gro Capital Ease and China Taiping i-Save Plan have been fully subscribed. Thus you have to wait for the launch of the next tranche.