According to the contract, endowment premium can be one-time or regular on monthly, quarterly, annual basis.
Savings account is a more flexible way to increase savings. In an unforeseen situation, you can always use your savings; they can be easily withdrawn from the account at any time. The interest rate, however, is not fixed here, and the bank can change it at its own discretion: either increase or decrease it; it will be more difficult to calculate the yield.
In case with endowment insurance, the interest rate is fixed. When concluding an agreement, the client chooses the frequency of premiums — one-time or regularly (monthly, quarterly, annually — depending on the terms of the agreement).
Besides, the client has a choice of insurance risks, depending on personal preferences they can use the main list or connect an additionally formed package. Depending on plans and needs, the validity period of the policy can also be chosen.
Endowment programs are suitable for forming savings for a variety of purposes, from buying household appliances or paying for vacation to buying an apartment, paying for education, or even for the purpose of transferring capital.
Source: https://www.rbc.ru/life/news/66d5ae579a79471d8325566d
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