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What are the differences between whole life and endowment policy?

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What are the differences between whole life and endowment policy?

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Differences between whole life and endowment policy are;

  • Whole life covers the assured throughout his/her life while endowment policy covers the assured for a specific period of time.
  • Whole life compensation premium are paid throughout the life while in endowment policy premiums are paid for a specified period of time.
  • Whole life is not a saving plan for the future while endowment policy is a saving for the future.
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