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Endowment Policy Compensation
A type of mortgage where your payments cover the interest cost only. You need to take out an Endowment Policy to pay off the loan at the end of its term. Endowment policy term investment plan (usually investing in the stock market), which also includes life insurance cover so that if you die during the plan, your successors get a guaranteed payout. Often used to repay mortgages at the end of their term. The final payout is usually not guaranteed
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1. We pass your details to a specialist company called AAP, who are experts in selling endowment policies. 2. They write you a letter asking for your authority to contact your endowment office. 3. AAP secure the best price possible for your policy and give you a quote. 4. obligation. Tue, 26 Feb 2008
More about Endowment Policy Compensation
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Primary Beneficiary The party or parties who have first rights to receive the benefits of a term life insurance policy following the death of the insured. Also called first beneficiary. Compare to contingent beneficiary. Proceeds The amount of money that the life insurance company is obligated to pay for the settlement of a term life insurance policy, endowment insurance policy, or annuity.
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