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Endowment selling is the selling of an endowment policy to a third party instead of surrendering it to the original life assurance company.This is often done in an attempt to gain more money than the value given when surrendering.
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. [1] [2] These are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits.
The English auction is commonly used for selling goods, most prominently antiques and artwork, [2] but also secondhand goods and real estate. Auction by the candle. A type of auction, used in England for selling ships, in which the highest bid laid on the table wins after a burning candle goes out.
An endowment mortgage is a mortgage loan arranged on an interest-only basis where the capital is intended to be repaid by one or more (usually Low-Cost) endowment policies. The phrase "endowment mortgage" is used mainly in the United Kingdom by lenders and consumers to refer to this arrangement and is not a legal term. The borrower has two ...
The land sold by a Muslim to a dhimmi (a free non-Muslim who is subject to a treaty of surrender in the Islamic state). [8] Khums is a 20% tax on the aforementioned wealth, after deductions for expenses of the individual and dependents. [21]
Financial endowment, pertaining to funds or property donated to institutions or individuals (e.g., college endowment) Endowment mortgage, a mortgage to be repaid by an endowment policy; Endowment policy, a type of life insurance policy; A synonym for budget constraint, the total funds available for spending
A modified endowment contract (MEC) is a cash value life insurance contract in the United States where the premiums paid have exceeded the amount allowed to keep the full tax treatment of a cash value life insurance policy. In a modified endowment contract, distributions of cash value are taken from taxable gains first as compared to ...
A dowry is the transfer of parental property to a daughter at her marriage (i.e. "inter vivos") rather than at the owner's death (mortis causa). [6] (This is a completely different definition of dowry to that given at the top of the article, which demonstrates how the term ‘dowry’ causes confusion.)