Factor endowment

 

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Factor endowment

The quantity of a primary factor present in a country. See endowment.



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Endowment insurance

Endowment insurance

A cash value life insurance policy with a fixed term. Premiums are applied to give life insurance cover for the face amount and at the end of the term the cash value will equate to the face amount and be payable.


Low start endowment

Low start endowment

This is essentially the same as a low-cost endowment, but premiums begin at a lower level and gradually increase over a number of years - usually between five and ten. The initial premium can be significantly lower than the full premium, but never lower than half (which is a common starting point). Premiums may, for example, increase from 50% to 100% of the final value by 20% per year for 5 years or by 10% per year for ten years. This is another product designed to make it easier to budget over the first few years of home owning, when money is likely to be tighter for many people. As with most products that work this way, you generally have to pay for it in the long run.


Endowment mortgage

Endowment mortgage

An interest-only mortgage ultimately repaid by the proceeds of an endowment assurance policy which is assigned to the lender providing the mortgage. The policyholder pays the lender's interest only, for the term of the mortgage. The sum assured, which is payable on maturity or prior death of the policyholder, is used to repay the mortgage. Policies are usually with profits (or low cost endowment), unit linked or unitised with profits and sometimes this provides some additional capital for the policyholder after the lender has been repaid.


Pure endowment

Pure endowment

A life assurance policy where the sum assured is paid if the life assured survives the term but in the event of prior death nothing is payable.


Unitised with profit endowment

Unitised with profit endowment

This 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.


Further Suggestions

Endowment
child deferred endowment
endowment
Full with profit endowment
income endowment
Non profit endowment
Traded endowment policy (Tep)
endowment assurance
full endowment
Endowment
second hand endowment
Unit linked endowment
unit linked endowment assurance
income pure endowment
Low cost endowment


 
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