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Endowment assurance |
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Endowment assuranceA fixed term life assurance policy in which provision is made for premiums to pay for life cover plus a savings/investment element. The policy pays out a sum of money (the sum assured) on the death of the life assured or at a specified date (the maturity date) if the life assured survives the term. If an endowment policy is encashed in its early years any proceeds returnable to the policyholder will normally be below the value of the premiums paid up to cancellation.Similar MatchesEndowmentEndowmentThe amount of something that a person or country simply has, rather than their having somehow to acquire it. In the H-O Model of trade theory, endowments refer to primary factors of production, ignoring the fact that some of them -- especially capital and skill -- are deliberately accumulated. Unit linked endowmentUnit linked endowmentYour monthly premiums are used to buy units in a fund or funds run by professional managers. Like unit trusts, the price of these units can go up and down, so the value of the endowment can constantly change. Full endowmentFull endowmentAn endowment policy in which the savings element is significantly increased. Non profit endowmentNon profit endowmentThis type of endowment guarantees repayment of the loan. There are no annual or final bonuses and you generally have no chance of a cash surplus on maturity. Essentially, there is no benefit other than life cover which is eaqual to the value of the mortgage you have ttaken out. This is seen as an inefficient method of saving the money to pay back and is therefore rarely recommended as a method of repaying a mortgage. Income pure endowmentIncome pure endowmentAn endowment plan which carries an option at maturity for the proceeds to be paid in the form of a regular income. In the event of the policyholder's death before maturity no benefit is payable. Further Suggestionssecond hand endowmentunit linked endowment assurance Low start endowment Endowment endowment insurance Low cost endowment Full with profit endowment endowment mortgage income endowment pure endowment child deferred endowment endowment Unitised with profit endowment Traded endowment policy (Tep) Factor endowment |
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