Our Glossary of life insurance terms
A life insurance policy that also carries an investment element
normally equal or greater than that of the sum assured.
Generally used in this country to aid the repayment of mortgages
used for house purchase but can also be used as a savings plan.
Endowments were once and are still sometimes used by charities
to generate income on a regular basis by setting a few of them
to mature regularly each year this ensured a regular set amount