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Typically, one’s responsibility for the financial protection of the
family reduces significantly once the children are grown up and
independently settled. The focus then shifts to managing a smaller
family - perhaps only oneself and one’s spouse - after retirement.
This is where the endowment - the original sum assured and the
accumulated bonus - received back comes handy. You can either use
the endowment amount for buying an annuity policy to generate a
monthly pension for the whole life, or put it in any other suitable
investment of your choice. This is the major benefit of an endowment
policy over a whole life one. |
