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  • FIRST POST
    • Glennyboy73
    • By Glennyboy73 14th May 18, 11:47 AM
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    Glennyboy73
    Is there such a thing as Endowment Life insurance Policies anymore?
    • #1
    • 14th May 18, 11:47 AM
    Is there such a thing as Endowment Life insurance Policies anymore? 14th May 18 at 11:47 AM
    I remember my parents having endowment policies when I was a child which paid out a premium at a certain age. Does this kind of thing still exist today? I was thinking it would be good thing to have rather than fork out on life insurance with no return.
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    • TrickyDicky101
    • By TrickyDicky101 14th May 18, 12:14 PM
    • 3,011 Posts
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    TrickyDicky101
    • #2
    • 14th May 18, 12:14 PM
    • #2
    • 14th May 18, 12:14 PM
    You could alternatively invest in ISAs and have a decreasing term life insurance policy running alongside - that would be similar to an endowment product.
    • ACG
    • By ACG 14th May 18, 12:39 PM
    • 16,848 Posts
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    ACG
    • #3
    • 14th May 18, 12:39 PM
    • #3
    • 14th May 18, 12:39 PM
    Endowment policies cost more...much more than life insurance.
    As above, an ISA/Life insurance would be the same thing more or less, give you more freedom and probably be cheaper.

    I see people on here post a lot about not getting anything in return at the end of the policy but never in my every day appointments have I had this as a barrier for life insurance. Most people would be happy to get to the end of their policy and still be around to see it.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • dunstonh
    • By dunstonh 14th May 18, 12:59 PM
    • 92,652 Posts
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    dunstonh
    • #4
    • 14th May 18, 12:59 PM
    • #4
    • 14th May 18, 12:59 PM
    Is there such a thing as Endowment Life insurance Policies anymore?
    last major provider pulled out of offering them in 2004. They were killed off by ISAs effectively.

    I was thinking it would be good thing to have rather than fork out on life insurance with no return.
    Life assurance with no investment element is around 1/10th the cost of what an endowment would have been. That investment element wasnt a freebie. You paid for it in increased premiums or reduced life assurance cover. So, put 90% in to a regular investment and 10% into a term assurance.

    For most people, there is no reason to mix and match their investment products with their life assurance. You dont expect your car insurance or house insurance to do it.

    However, if you did, then as mentioned above, it would be two products. An ISA and term assurance. Far more tax efficient than an endowment.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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