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BUPA with Profits Endowment
The British United Provident Association (BUPA) founded in 1947 is a leading healthcare organisation in Great Britain. It has an astonishing ten million clients spread over three continents and in more than 190 countries. This private company is a competitor to the National Health Service (NHS) in the UK.
BUPA Endowment Life Insurance offers life cover with the promise of a lump sum payment. Of course, this is in return for regular premium payment on the part of the policy holder. Here the family is guaranteed a secure future in the case of the death of the insured.
But it does not require the death of the person to get the compensation, but the policy holder himself is entitled to the insured amount with accrued profits on the maturity of the policy.
Usually, the Endowment policies are taken for duration of ten, fifteen or twenty years or up to a specified age of the policy holder. There are policies which are willing to make payouts if the holder encounters a critical illness.
The Endowment Plan has variations where it is linked with profits or even Unit Linked Endowment Plans which combines profits. Here, the nominee receives the insured amount with accrued bonuses and profits which are shared in case of death of the policy holder. But the Endowment Plan has a higher premium that the policy holder has to pay as opposed to the term plan.
Endowment Plans have the double benefits in that it not only covers life but also becomes forced savings. And, if the insurer is in good health and receives the lump sum with profits and bonuses, it becomes an additional income to the pension received in retirement.
BUPA being one of the largest organisations in Britain for healthcare offers different types of life insurance. They have Whole Life cover, Life Cover with critical illness, term life cover, life cover with income protection and even Over 50 life insurance. BUPA has a health cash plan which can help the policy holder to cover certain illnesses. He is allowed reimbursement of the money he spends on medical bills. What is interesting is that it also has health cash plans for treatment of dental problems and care of the eyes. Their income protection plan is helpful when the policy holder is out of employment or loses his job. Sometimes, circumstances like crippling illnesses or diseases prevent them from going to work. At such times, the insured person receives a certain amount of money regularly every month to compensate the loss of monthly salary.
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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.