05 March 2007

Endowment Policies

If you took out endowment life insurance policies in order to repay your mortgage and have paid the regular premiums over the years you may have been notified by your insurance company that the value at maturity will not be sufficient to cover the amount owing on your mortgage. Hundreds of thousands of endowment policies were started in the 1970s and 1980s, when these were a very popular method of covering the mortgage loan principal. These policies were confidently expected to pay off the mortgage loan completely at the end of the term - indeed many home owners expected a surplus to be accrued by that time. However, for a number reasons, many of these endowment policies are incurring a shortfall. Some policyholders are surrendering their policies to their insurers a paltry surrender value. Fortunately there are alternatives: you are likely to receive a higher payout by using an endowment policy selling service - they are there to sell endowment policies on your behalf at a far higher sum .
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