Not a day goes by without one of the national press or personal finance publications discussing the ...
Not a day goes by without one of the national press or personal finance publications discussing the merits and pitfalls of endowments. But how much do consumers really know?
IFA Promotion has now published a free fact sheet, detailing the issues consumers look at.
The document set out in a question and answer format provides investors with answers to some of their most frequently asked questions such as why are endowments linked to mortgages and more routinely how exactly do they work.
It also provides answers to why life groups are reviewing endowments. The most common reason for review is based on the concern that endowments will not provide sufficient growth to cover the cost of a mortgage.
Options include increasing endowment premiums and the implications of this, taking out an additional policy, extending the life of a product and taking out an alternative investment.
David Elms, chief executive of IFA Promotion said: "There are a number of options available to those whose endowment may not meet their mortgage liabilities. Providers are not able to advise customers about which option is best suited to individual circumstances, so seeing an IFA is vital if people are to make the right choice."
For further information and to order a copy of the guide call the consumer hotline on 0800 085 3250 or visit www.unbiased.co.uk.
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