Demand for Teps starting to increase

After a fall in 2002, the demand for traded endowment policies (Teps) has risen since the beginning of this year, according to intermediaries and market makers. Weak economic markets and bonus rate cuts from life offices had a huge negative impact on the market last year, said Colin Jackson, director of Baronworth Investment Services. However, Jackson added, there are signs the market is picking up and he is fielding more enquiries and offers from market makers on endowment policies. David Carrington, sales and marketing director at Policy Plus, said as bonus rates have fallen t...