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With Profits Endowments Explained.




   Endowments explained. With Profits, Low Cost & Low Start endowments

Endowment policies explained.

An endowment policy is a savings and life assurance policy for an agreed period, the minimum term being 10 years. A tax free benefit is normally paid out at maturity or on earlier death.

The policyholder may sell the policy in the traded endowment market, as an alternative to surrender before the end of the term, although this must be carefully considered as financial penalties will often apply.

There are charges on all endowment policies and the Key Features document from endowment providers will explain these.

Early surrender will usually incur further charges from the provider.

Endowment policy types.

Types of endowment policies include With profits, low cost, unit linked, low start, flexi endowment, and friendly society plans. Please click on the links below for more details.

If you withdraw from this type of investment in the early years you may not get back the amount invested.

With profits endowment policy.

With profits endowment policies are normally enhanced with regular bonus payments. Bonuses are added to the sum assured and once added can be withdrawn at certain times. Please follow links below for more information.

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