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Endowment |
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EndowmentThe 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.EndowmentGift of money or property to a specified institution for a specified purpose.EndowmentA gift such as money or property to an institution for a given purpose.Similar MatchesFactor endowmentFactor endowmentThe quantity of a primary factor present in a country. See endowment. 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. Unitised with profit endowmentUnitised with profit endowmentThis is a hybrid unit-linked endowment, designed to smooth out price fluctuations that occur with unit-linked policies. The value of units is declared each year and that value is then guaranteed. The guaranteed value that is declared is at a discount to the actual value of the units. The guaranteed value will not reach the real value until the term of the endowment is up, so the chance of being able to pay of the loan early is minimised. Endowment assuranceEndowment 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. Further SuggestionsFull with profit endowmentendowment insurance endowment mortgage unit linked endowment assurance Traded endowment policy (Tep) Unit linked endowment child deferred endowment second hand endowment income endowment Low start endowment pure endowment Low cost endowment full endowment |
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