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Scottish Mutual Endowment Life Insurance
Scottish Mutual is one of the top life insurance providers in the UK.
Scottish Mutual Endowment Life Insurance assures a guaranteed lump sum at the maturity of the policy. An endowment plan is basically designed, for the customer who may just need to cash –in the premium anytime between the policies or may need to invest it over in the market.
Endowment plans are costlier than whole life plan as they come for fixed terms as 10, 15, 25 or 30 years. The claim is paid to the beneficiary of the family when the policy holder is no more.
About Scottish Mutual Endowment Life Insurance
Scottish Mutual is a Glasgow, Scotland based company which sells products like protection, endowment and pension plans. In 2001, Scottish Mutual became a part of the Abbey National Group. It has around 20,000 employees and its branches are spread all over the world.
Types Of Life Insurance
The Types of endowment Life insurance are:
With profit Endowment: in this type of plan, the company assures the sum to be paid at the time of maturity but the same can be enhanced by investing it the right way. This annual bonuses are called terminal bonus and are in addition to the regular guaranteed sum. These plans can also be surrendered anytime or can be sold to another person and transferred.
Unit Link Endowments: this endowment’s premium invests the unitized insurance funds and the same is cashed-in to pay for the life insurance. The policy holder here, have a choice of the units where they want to invest their money.
Full Endowments: Full endowments are profitable as one amount is already assured while the growth makes sure that the amount payable at the end is more than the initial amount.
Low Cost Endowment: This type of policy is a mix of investment so that the amount payable at the end is met by growth and a minimum amount is paid after the death of the policy holder. This suits those who have to pay mortgage loans.
With so many firms selling endowment policies Scottish endowment is in run with Nationwide Endowment and Liverpool Victoria Endowment Insurance.
Review of Scottish Mutual Endowment Life Insurance
Scottish Mutual Endowment Life insurance presently is has no review on the Scottish Mutual Endowment Life Insurance. You can read Posts about the other endowment insurance providers and write your review about Scottish mutual plans. Click on link to put your opinions about the service and product of the Scottish Mutual.
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