Endowment insurance combines a death benefit during a specified term with a maturity benefit if the insured person survives to its end. It is often used for a planned savings goal alongside life protection. The premium funds both protection and the product's savings structure, so it differs from pure term life insurance.
A Nepalese buyer saving for education should compare the maturity date with the expected expense and distinguish guaranteed benefits from projected bonus amounts. Early surrender can produce much less than total premiums paid. Consider whether the required regular payments remain affordable throughout the term.