Difference Between Term Insurance and Endowment Plans in India
Term insurance offers pure life cover without maturity benefits. Endowment plans combine life cover with savings and maturity benefits. Term plans are cheaper and ideal for high coverage at low premiums. Endowment plans are more expensive but return money after the policy term. In India, both have tax benefits under Section 80C. Term insurance suits those seeking financial protection, while endowment is for risk-averse individuals who want returns. Compare your financial goals before choosing. Both plans are available from LIC and private insurers like HDFC Life or SBI Life.
