Traded endowment policy (Tep)


 

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Traded endowment policy (Tep)

Another name for Second-Hand Endowment Policy (Shep).



Traded endowment policy (Tep)

Similar Matches

Child deferred endowment

Child 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.


Full with profit endowment

Full 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.


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.


Unit linked endowment assurance

Unit linked endowment assurance

See: 'endowment assurance'.


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.


Further Suggestions

Endowment
income pure endowment
endowment
Unit linked endowment
endowment assurance
Low cost endowment
Factor endowment
second hand endowment
Endowment
Non profit endowment
Low start endowment
full endowment
pure endowment
Unitised with profit endowment
income endowment


 
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