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Unitised with profit endowment |
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Unitised with profit endowmentThis 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.Unitised with profit endowment Similar MatchesEndowment 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. 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. 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. Non profit endowmentNon 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. EndowmentEndowmentA gift such as money or property to an institution for a given purpose. Further SuggestionsFull with profit endowmentfull endowment child deferred endowment Endowment Low start endowment Low cost endowment income pure endowment endowment mortgage Factor endowment second hand endowment endowment insurance Traded endowment policy (Tep) income endowment unit linked endowment assurance Endowment |
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