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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 MatchesLow start endowmentLow start endowmentThis 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. Pure endowmentPure endowmentA 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. EndowmentEndowmentThe 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. Income endowmentIncome endowmentAn endowment plan which carries an option at maturity for the proceeds to be paid in the form of a regular income. Child deferred endowmentChild deferred endowmentAn 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. Further SuggestionsNon profit endowmentendowment Unit linked endowment full endowment Endowment Low cost endowment income pure endowment endowment insurance endowment assurance endowment mortgage Factor endowment Unitised with profit endowment Full with profit endowment unit linked endowment assurance second hand endowment |
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