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Endowment Life Insurance with Mortgage Protection Included
It's always comforting to know that there are so many companies that offer endowment life insurance with mortgage protection included. This is very helpful for people who would like to have their dream house because endowment policy is popularly used to repay mortgage.
But what are the things that you should be completely aware of when it comes to endowment life insurance. First thing is that this type of life insurance requires payment of the premium in a relatively shorter time as compared to whole life insurance.
The policyholder will have to pay the premiums normally between 10 to 20 years for most insurance companies that offer endowment policy.
With this type of policy, the insured will get a guaranteed amount if he or she is able to outlive the agreed policy or coverage period while the beneficiaries of the policyholder will receive it at the time of his or her demise.
There are several kinds of this policy: with-profit, unit-liked and the low-cost insurance. One of the advantages that the insured will enjoy with endowment policies is the opportunity to build the value of the amount paid in faster manner because of the limited time to pay the premiums. And if the policyholder became seriously ill during the agreed coverage period, he or she will be able to get the lump sum amount.
If you have an existing mortgage, you can always resort to endowment life insurance with mortgage protection included to be able to pay off your mortgage. This is another good feature of endowment policy that attracts a lot of homeowners because it gives them the assurance and peace of mind knowing that they won't lose their purchased house.
If you are interested in getting an endowment life insurance with mortgage protection included, you have to consider highly reputable insurance companies that offer this policy. The premiums might be relatively expensive but you will be assured that they will not disappoint, especially in repayment of mortgage. Inquire about this feature so you will know how much you have to pay and what other benefits you will be getting from it.
Avoid turning to cheap endowment insurance being offered out there because chances are the repayment for the mortgage is not guaranteed. Of course, you don't want to be paying premiums and expecting that your mortgage will be repaid but in the end you will not be able to do so because you were not informed about not having the mortgage protection package.
40% Off Endowment Cover
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.