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    • presieus
    • By presieus 19th Jun 17, 3:48 PM
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    presieus
    looking for type of life insurance
    • #1
    • 19th Jun 17, 3:48 PM
    looking for type of life insurance 19th Jun 17 at 3:48 PM
    I moved over from Germany and there I have a life insurance which also pays out a lump-sum when i reach retirement and are still alive.
    When looking at life insurances in the UK i don't find this type of product, does this exist but just has a different name?
Page 1
    • Weighty1
    • By Weighty1 19th Jun 17, 4:49 PM
    • 169 Posts
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    Weighty1
    • #2
    • 19th Jun 17, 4:49 PM
    • #2
    • 19th Jun 17, 4:49 PM
    They used to be called "endowment" policies and were quite common, however, due to poor investment returns and a whole host of issues regarding complaints they were pulled from the market a good number of years ago and no mainstream company now offers them.
    • presieus
    • By presieus 19th Jun 17, 5:05 PM
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    presieus
    • #3
    • 19th Jun 17, 5:05 PM
    • #3
    • 19th Jun 17, 5:05 PM
    ah, shame. Thanks!
    • TrickyDicky101
    • By TrickyDicky101 19th Jun 17, 5:16 PM
    • 2,625 Posts
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    TrickyDicky101
    • #4
    • 19th Jun 17, 5:16 PM
    • #4
    • 19th Jun 17, 5:16 PM
    You can create something similar with a term assurance life policy and a savings plan (eg in an ISA/personal pension) - it would simply be two independent products rather than one.
    • dunstonh
    • By dunstonh 19th Jun 17, 6:08 PM
    • 88,266 Posts
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    dunstonh
    • #5
    • 19th Jun 17, 6:08 PM
    • #5
    • 19th Jun 17, 6:08 PM
    When looking at life insurances in the UK i don't find this type of product, does this exist but just has a different name?
    As mentioned above, they were retailed in the UK but went obsolete around 1995 and the last mainstream provider pulled out in 2003.

    It wasnt about low returns as that wasnt the issue. It was a combination of over-use when inappropriate and not keeping up with the times as well as better alternatives being available.

    ah, shame. Thanks!
    Its not a shame. You just use the alternatives. A stocks and shares ISA with a decreasing term assurance does the same job at lower cost and more tax efficiently.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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