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This practice has created a thriving industry of endowment policy buyers. Members of the public can either contact these companies directly or they can use the services of a Traded Endowment Specialist. [5] Traded Endowment Specialists are companies that deal exclusively with Second Hand Endowment Policies and obtain offers from the entire market.
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.
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 English auction is commonly used for selling goods, most prominently antiques and artwork, [2] ... Auctions are held for second-hand endowment policies. The ...
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
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The endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. Typical maturities are ten, fifteen, or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness.
Endowment mortgage – an interest-only mortgage where the capital is planned to be repaid from the maturity value of one or more endowment policies at the end of the mortgage term. Investment backed mortgage – an interest-only mortgage where the capital is planned to be repaid from the proceeds of an Individual Savings Account (ISA) or other ...