Non profit endowment
Non 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.
Non profit endowment
Income pure endowmentIncome pure endowment
An 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.
Full with profit endowmentFull with profit endowment
The most expensive endowment plan with the highest guaranteed returns. This type of endowment guarantees an annual growth and also to pay off the full loan at maturity which is the cause of the added expense. It also has built in life cover. The future growth of your investment is assumed to be at a certain rate, which determines the level of your premiums. The portion of your premium that is being invested is pooled with the premiums of other investors. Annual bonuses are added to the maturity value each year and are dependent on the performance of the investment fund. There is a possibility that the bonuses will take the maturity value above the level required to pay back the loan. This would result in a tax-free cash surplus, which you can spend on whatever tickles your fancy.
Gift of money or property to a specified institution for a specified purpose.
Child deferred endowmentChild deferred endowment
An endowment assurance, on the life of a child, which can be taken as cash at maturity or converted to a full endowment or whole life assurance.
Traded endowment policy (Tep)Traded endowment policy (Tep)
Another name for Second-Hand Endowment Policy (Shep).
Further SuggestionsLow start endowment
second hand endowment
Unit linked endowment
Low cost endowment
Unitised with profit endowment
unit linked endowment assurance