5 THINGS YOU SHOULD KNOW BEFORE BUYING ENDOWMENT POLICY .
1. Salient Features of an Endowment Policy One can use this maturity benefit to fulfill their various financial needs like funding their children’s education, saving for retirement, buying a house, children’s marriage etc. The major benefit that can be availed under endowment plan includes financial security of the loved ones, tax exemption under section 80C and (10D) of income tax act, goal based savings, in case of any emergency option to avail loan facility against the policy. 2. Who Should Consider Buying an Endowment Policy? As mentioned above, endowment policy can be a great savings option for those who tend to spend excessively without keeping any financial backup. They may require a significant amount in hand, after a certain period of time in life (especially after retirement) and an endowment plan helps them to follow a disciplined route of saving. Any individual, who wants to meet their long-term financial needs, can opt for an endowment plan that provid