Endowment selling

Endowment selling is the practice in the United Kingdom of selling an endowment policy to a third party. ^[1]

4 relations: Endowment policy, Life insurance, Mortgage loan, With-profits policy.

Endowment policy

An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death.

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Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

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Mortgage loan

A mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged.

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With-profits policy

A with-profits policy (Commonwealth) or participating policy (U.S.) is an insurance contract that participates in the profits of a life insurance company.

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References

[1] https://en.wikipedia.org/wiki/Endowment_selling

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