Latest News: Manx Tails April 2012 > Read more > All news
Endowment
This type of life assurance has traditionally been used in support of an Interest Only mortgage and has a large savings element attached to it.
Endowments have received very bad press over the last few years and are no longer sold in support of mortgages or to provide a realistic solution to life assurance requirements. They can still be found as regular savings products from insurance companies which offer a small element of life cover but the main purpose is now for investment.
Our preferred method of supporting an Interest Only mortgage is now through use of a collective investment scheme such as a unit trust or an OEIC (open Ended Investment Company) in conjunction with a level term policy.