Endowment Policy's
Options
Cammy555
Posts: 1 Newbie
My endowment policy is due to mature in October and id like to start a new one but cannot fined any companies that still do them. Is there anyone still doing them or have they been replaced by something different. Any suggestions would be appropriated:j.
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Comments
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ISAs are much more flexible and you could take out a term life assurance policy to run alongside if you want to make it endowment-like.
Endowments are no longer retailed as they have been superseded.0 -
My endowment policy is due to mature in October and id like to start a new one but cannot fined any companies that still do them.
The last mainstream provider of endowments pulled out in 2003.
The main reason was that they became a niche option as ISAs took over in respect of tax efficiency and unwrapped investments (next in the pecking order) became more tax efficient than life funds. Since then, pensions have moved up the pecking order ahead of ISAs in many cases.
The only window where an endowment would fit would be a higher or highest rate taxpayer who is using all their ISA allowance, pension allowance, dividend and CGT allowance on an annual basis. It didn't leave enough of a market for providers to continue offering them.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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