An endowment is an investment policy.

It offers you tax benefits. But, there are restrictions on withdrawals.

May suit you if:
you are a long-term investor with a marginal income tax rate higher than 30%.

The income tax rate in an endowment is fixed at 30%.
Benefit: your returns will be taxed at a lower rate.

Are your income taxed at less than 30% ?
Then you will be taxed more in an endowment than in a plain unit trust investment.

A useful product for estate planning.
Your beneficiaries can receive your investment directly.
No executor’s fees.

During the first 5 years you may make one withdrawal.
The size of this withdrawal may be limited.
It depends on the growth of the investment during this five-year term.
Similar five-year terms may apply depending on the size of your contributions each year.

When you are not in such a five-year term, you may withdraw from your investment at any time.
Or you may schedule regular  withdrawals.