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How much is an endowment policy for £150,000?
If you are looking for an endowment policy first get a clear idea about the policy and its features. An endowment policy is an insurance plan that pays you lump sum amount at the time of its maturity or on the event of death. It is a good way to secure your retirement. A lot of banks provide endowment policies. Before coming into a contract with any of them compare the different policies and the additional benefits the policy has to offer.
An endowment policy’s maturity period may vary between 10 to 15 years. Depending on the time you choose, premiums and returns will be accounted. Let’s say you want a return of £150,000 at the end of 10 years.
And critical illness is also covered in your policy then based on the time you want to pay, your premiums can be calculated. But first you will have to decide the kind of policy you want. All the information nowadays is available on the online portals of banks to help ease the data transfer.
How much is an endowment policy for £250,000 or £300,00?
Likewise, for return of £200,000, £250,000, £300,000 or any other amount, premiums can be calculated. Premium banks have devised a method to help the people get an idea of the features. You just need to select the policy online, enter your age and other minor details to find the terms on your premium. It is a much better way to help you find the most suitable policy.
When you enter into a contract and start paying premiums, you will receive documents on an annual basis about the condition of your policy and whether it would be able to meet the target amount. There can be shortfalls during the maturity period since a part of your premiums is used for investment purposes. There are ways to ensure the policy meets the target amount. The part that is not covered by the endowment policy cab be converted into repayment mortgage. Another way is to increase the premiums.
On certain policies you have the freedom to trade your insurance policy. But if there is a serious shortfall, you can also cash in your money. If you do it in early stages, there will be no significant profit and might have to face the cancellation penalty. The premiums calculated for specific returns are not guaranteed appropriate. It is always better to go through the different policies before settling with the one.
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.