Popular endowment policies now have

popular endowment policies now have

Are you tired of paying for an endowment policy which you now fear may never pay off your mortgage? Would you be better off walking away? In this article I want to look at the options that people with the once popular endowment policies now have.

Back in the 1980′s endowment policies were seen as low-cost and low-risk ways of saving for your retirement. Unfortunately the reality has been a little different from that which was promised by the keen insurance agents who promoted the policies to British home-owners at the time.

An endowment policy is a combination of life insurance and stock investment all backed by a mortgage against your home. Typically the policy owner has an interest-only mortgage against the property and the capital is invested into managed funds or the stock market. The gains of the market were supposed to pay off the home mortgage at the end of the policy’s term – usually 25 years.

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• Endowments and Endowment Shortfalls – What You Need To Know