The dual purpose life assurance plan: Endowment Plan

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One of the greatest investments you will ever make in your life if you have the foresight to do so, is a life assurance plan. Building a strong financial foundation begins with having the right tools, and life insurance is one of those tools.  This is especially important if you are a habitual spender and find yourself unable to save for your future needs.

Sacos has a variety of plans specially designed to meet the specific financial needs and interests of the client.

The Endowment Assurance Plan is one of our most basic plans. You are probably wondering what that is. Endowment plans are basically life insurance policies that serves a dual purpose; it is a life insurance which, apart from covering the life of the insured, helps the policyholder save regularly over a specific period of time so that they are able to get a lump sum amount on the policy maturity. This maturity amount can be used to meet various financial needs such as funding one’s retirement or policy to build a risk-free savings corpus, while providing financial protection for family in case of an unfortunate event.  

The Endowment Assurance Plan will pay you a full sum assured upon maturity with accrued bonuses. This plan provides assurance protection during the term of the contract in case of future emergencies, while still enabling you to meet your non-negotiable life goals. These can be anything from meeting your children’s education expenses, starting up a business or even living a comfortable retired life.  If you unfortunately become permanently disabled before the end of your savings term, you will be paid the full sum assured plus accrued bonuses. The simplicity of the Sacos Endowment Plan has made it an attractive savings plan for just about everyone. 

If the Endowment Assurance Plan is not what you are looking for or you want to consider other options, at Sacos we have an extensive range of life assurance products that can meet your need. Call us on 429 5000 or send an email to life@sacos.sc for more information.

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