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What is the duration of the saving plan?

April 26, 2017duration Plan Saving

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What is the duration of the saving plan?

1 Answer

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10 Posted

If you buy an endowment plan, you have to fixed the duration in advance. Most parents will take a plan to mature at a specified age for the child (say 18 years). If you buy an investment-linked plan, you do not have to specify the duration in advance. You have the flexibility to continue the plan for as long as needed. You can also make an earlier withdrawal, partially or in full, without any penalty.