Is it beneficial to have endowment policy & pure term policy ?

Hello ,

First let me clear that I am not an insurance agent neither I am working in finance domain.

On this forum in many articles many members have mentioned that instead of any child plan or any endowment policy we should go for “Pure Term Insurance + PPF+Mutual Funds “ model.
I totally agree that one should have pure term insurance. But I have opinion that one should also have some kind of endowment policy.

For the same amount of premium, in general endowment policy gives less coverage in comparison with pure term insurance. So I feel that the chances of getting claim settled in case of endowment policy are more in comparison with claim in case of pure term policy. So if a person has both the policies (term policy and endowment policy) then if claim for endowment policy gets approved then it can act as a supporting case for claim for pure term insurance.

So please guide me whether my assumption is correct ? Is it beneficial to have at least one endowment policy in the support of pure term policy ?

Thanks ,

– Yogesh