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Life Insurance - return of premiums
VonnyC
Posts: 1 Newbie
Hi
Growing up in the 1970/80s my parents took out some sort of life insurance policies in mine and my sisters names which matured after 5 or 10 years at which point we received a lump sum which was either all or a high percentage of the premiums paid. Do these type of policies still exist and if so what are they called, as I'm having trouble finding them (I've been looking at life insurance policies)?
Thanks in advance for any help given.
VonnyC
Growing up in the 1970/80s my parents took out some sort of life insurance policies in mine and my sisters names which matured after 5 or 10 years at which point we received a lump sum which was either all or a high percentage of the premiums paid. Do these type of policies still exist and if so what are they called, as I'm having trouble finding them (I've been looking at life insurance policies)?
Thanks in advance for any help given.
VonnyC
0
Comments
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Do these type of policies still exist and if so what are they called, as I'm having trouble finding them (I've been looking at life insurance policies)?
They were called endowment policies and the last mainstream provided pulled out in 2004. They would no longer be tax efficient to use for most people. i.e. term assurance is better for life assurance and S&S ISAs are better for investing.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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