Answers: An endowment policy returns the face importance of the policy to you at the end of the residence. A term policy does not. In other words, a $100,000 possession policy will pay $100,000 to your beneficiary if you die during the possession. If you survive the term, nought is paid. An endowment policy would pay envelope your beneficiary $100,000 if you died during the term, and would money you $100,000 if you survived to the end of the permanent status. There will be a HUGE price difference between the two.
term have little if any cash merit. endowments own have illustrious cash efficacy. If you want read something about "INSURANCE" i freshly come accross this blog which may help you :
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Term policies give you maximum coverage at extremely low premiums (i.e P1M for P6,000 premium) but these are like your motor insurance...your money does not earn dividends and cash values...so you enjoy to continue paying for duration and will lapse as soon as you stop paying.
Endowment policies are policies that give you fitting cash values and dividends and usually become fully grown after 10, 15, 20 or 25 years (you get to choose the maturity). These are more expensive but you can delight in its benefits while you're still alive... meaning these policies enjoy living benefits.