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Low cost endowment |
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Low cost endowmentDesigned to accumulate the sum needed to pay after a given period, usually for the purpose of paying off a mortgage. However there are no guarantees and investors may have to increase their premiums to build up enough to pay off their mortgage.Low cost endowment Similar MatchesSecond hand endowmentSecond hand endowmentSee: 'traded endowment policy'. 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. Income endowmentIncome endowmentAn endowment plan which carries an option at maturity for the proceeds to be paid in the form of a regular income. 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. Endowment mortgageEndowment mortgageAn 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. Further Suggestionsunit linked endowment assurancepure endowment Non profit endowment child deferred endowment Traded endowment policy (Tep) endowment insurance income pure endowment Endowment Endowment full endowment endowment Low start endowment Factor endowment Full with profit endowment Unitised with profit endowment |
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