This type of policy plays two distinct roles.
It provides Life Assurance protection should you die during the term of the policy, which is normally longer than 10 years.
Should you survive to the end of the policy term then you receive a lump sum. This lump sum is known as the maturity value.
As there is an investment element within endowments, normally higher premiums are required to provide for similar levels of Life Assurance protection than an equivalent Term Assurance or Whole of Life policy.
An endowment assurance life policy should not be used as an investment, as there are better alternatives. If you have money to invest, you are likely to be better off choosing other investments and sticking to a term policy to provide your life assurance.
We do not profile investment based endowment assurance life policies.
