Term insurance covers medical hospital bills, whereas Endowment insurance covers vehicular accidents.

Term insurance guarantees a heavy savings payout, whereas Endowment insurance only pays out if the person dies.

Term insurance provides pure death coverage with zero maturity payout if the insured survives, whereas Endowment insurance combines death coverage with a guaranteed survival savings payout.

Term insurance is strictly issued by the government, whereas Endowment insurance is exclusively issued by private corporations.