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Best Endowment Policies in India in 2021

Updated On Aug 04, 2021

In an endowment policy, a lump-sum payment is made at the end of a specific term (the policy's "maturity") or upon death. Up to a certain age limit, typical maturities are ten, fifteen, or twenty years. Critical illness is covered by some insurance policies.

Best Endowment Policies in India in 2021

In 2021, India's best endowment schemes are as follows: 

1. HDFC Life Sanchay 

As a non-participating insurance plan, HDFC Life Sanchay allows you to choose your investment route and build financial stability while also providing guaranteed benefits.

Key features -

i. Guaranteed Benefits is one of the most important features.
ii. Pay premiums for a set number of years (5, 6, 8, or 10) or for a single payment under Single Pay.
iii.Flexibility in terms of policy
iv. A Short Medical Questionnaire is included in this plan (SMQ)

Minimum Entry Age: 30 Years with Limited Pay
5 years on a single salary

Limited Pay – 65 years; Single Pay – 50 years; Maximum Entry Age: Limited Pay – 65 years

HDFC Life Sanchay Plus and HDFC Life Sanchay Par Advantage are two further types of this plan.

2. ICICI Pru Future Perfect

Non-linked insurance plan from ICICI Prudential, ICICI Pru Future Perfect offers both financial security and growth potential. These plans allow for growth by investing a portion of your premiums in both equity and debt funds. Your money is also kept secure at all times.

Key plan features - 

(i) As a result of the investment, the investor will receive a Guaranteed Maturity Benefit (GMB), Accrued Guaranteed Additions (GA), Reversionary Bonuses, and Terminal Bonus, as applicable.
(ii) Flexibility
(iii) In addition, investors can avail tax benefits

3. Canara Guaranteed Income 4Life

Oriental Bank of Commerce Life Insurance Canara HSBC A non-connected, non-participating, single life insurance investment funds and security plan that provides guaranteed benefits and regular pay to meet both long-term and short-term financial goals is called Guaranteed Income 4Life. a life insurance plan that is fully customised to an individual's life stages, needs, and preferences, including a variety of terms and premium payment options.

Features to look for -

i. Income Payouts: All policy benefits are guaranteed at the start of the policy.
ii. Flexibility in the plan
iii. Premiums Assured Loyalty Additions
Profits and Losses from Taxes

Three to sixty years of age as of the last birthday
Last birthday maturity age: 17-25 years

4. Edelweiss Tokio Life – GCAP

There are two types of life insurance offered by Edelweiss Tokio Life – GCAP: non-linked and non-participating. Because we understand how important it is to maximise your hard-earned money's potential for wealth while also enjoying the finest possible lifestyle, our service is truly one of a kind. The package offers you a wide range of services in one convenient package. Both the maturity and death benefits are guaranteed under this plan. As an added bonus, you'll receive a Guaranteed Accrual Addition (GAA).

Key features include the following - 

i. There is a guarantee of all benefits up front
ii  Simplified product structure for ease of understanding
iii  A variety of policy terms and premium payment terms to meet your needs 
iv. Guaranteed Accrual Additions beginning in the 9th policy year 
v.Bonuses for paying a higher insurance premium
vi. Riders provide a high level of safety.


Age limit for entry: 91 days.
Adults must be at least 18 years old to enter (Last birthday) Over 55 Years Old
Minimum Age of Maturity (Last birthday) 18 Years of age
Age at which a person reaches full maturity (Last birthday) Seventy Years

5. Bharti AXA Life Guaranteed Income Plan

In the event of an unfortunate occurrence, the Bharti AXA Life Guaranteed Income Plan ensures that your family is protected. The plan offers four premium payment periods. Payments will begin at the end of your selected premium payment period, and will increase each year by 10 percent of the Annual Premium, depending on your policy's term, until the policy's maturity date is reached. 

Features to note - 

i. Conditions for Policy and Premium Payment
You can choose from four different insurance periods, each with their own set of premium payment arrangements.

ii. Survival Conditions
If the Life Assured survives until the end of the premium payment term, the Survival Payout is calculated as a percentage of the Annual Premium for the benefit period.

iii. Advantage of maturity
A policyholder's benefits will be paid if an insured lives to the policy's maturity date and all premiums are paid on time.

iv. Death Insurance 
It will be paid to the nominee whose death benefit is greater than that of: 

v. Premiums paid 10 times per year 
100 percent of all premiums paid up to the date of death, plus any additional premiums. 
This is the amount that will be paid out to the policyholder if he or she dies. 
Money that will be paid upon maturity. 

Entrance age maximum and minimum are determined by the plan choice selected at signup time. 


Endowment plans are a great investment option for long-term financial goals. The preceding essay will help you become more familiar with the best features of the plans mentioned above.

Also Read: Tips That Can Help You Buy A Good Endowment Plan

Basic Things To Know About Endowment Plans

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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