|
Savings Home | Banks
& Building Societies | Endowment
Policies Many offshore insurance companies offer endowment
policies, and until recently, this was a popular method of saving
over a longer period.
The way endowment policies work is like this: a
premium is specified at the outset of the contract, which usually
has a term of 25 years, and in return for the premium paid. A guaranteed
level of life cover is additionally purchased, along with expected
growth of the savings. The premiums after the purchase of life cover,
are directed to the insurance company's life funds, which can be
invested in a "with profits" or "unit
linked" fund.
Like Mutual Funds, Life companies normally offer a wide range of unit linked funds.
top of page
|
