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Halifax Endowment Policy
At Halifax Insurance Company, endowment policies provide you a sum of money after the compliance of a life term; it can be ten, twenty or thirty year’s term. This sum is paid by the company and gives it to the main beneficiary of the policy. This popular type of endowment policy helps you to overcome serious and terminal illness or death, the money can be rendered before the time comes, whether the policyholder is dead or alive, the company will check first upon the paid premiums. If the quantity of premiums given is enough to pay the insurance sum of money or if the termination of the insurance is near, then the company can proceed to render the money policy.
Benefits of Halifax Endowment Policies
Halifax was founded in 1853 Investment Society and benefit insurance but in 2001 it formed a society with the Bank of Scotland. Currently, they count with 72,000 employees and have a large shareholder based in United Kingdom. Halifax provides house mortgages and saving accounts from the main headquarter or branch in Yorkshire. In this text, we will mention some of the most important types of endowment policies:
Traditional, with profit Endowments: The sum of money is paid back once the years of coverage are nearly over.
Full Endowments: This type of endowment gives a minimum sum of money for the death of the policy holder, and also the full sum to the main beneficiary, which is bigger than other policies.
Unit-Link Endowment: The money from the premium is invested in different units.
Low cost Endowment: An income that is given upon maturity or end of the coverage.
Traded Endowment: The policy holder sells the policy to a person, increasing value for the policy; the new owner will receive all the benefits and will have to pay the premiums coming.
This policy helps customers against a critical and mortal illness or an unthinkable event that can damage the finances of your family and let them abandoned and alone. That’s why it’s crucial to have a plan for them; one that can cover their main needs and let them go on with their life without any worries, as if you never left.
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If you don't find the best value endowment life insurance quote now, over the lifetime of the policy this will cost you £1000's. Unlike other comparison sites we only provide quotes for Endowment Insurance which means you can speak to experts as well as getting great prices. Complete our form and find out your lowest quote.