0
What else can I help you with?
How does endowment mortgage works?
An endowment mortgage is a type of home loan where the borrower pays interest on the mortgage while simultaneously contributing to an endowment policy. This policy is designed to accumulate a cash value over time, which is intended to pay off the mortgage principal at the end of the loan term. The borrower’s monthly payments include both the interest on the mortgage and a premium for the endowment policy. If the endowment performs well, it can cover the mortgage balance, but if it underperforms, the borrower may need to find additional funds to pay off the mortgage.
Can you make a policy loan from an endowed policy?
Normally endowment policies are taken out as savings plan.These policies have a litle amount of life cover and a major investment element. Normally insurance companies grant loan on endowment policies if such policies are With profits for eg. Once a loan is granted the lender will beome the leagal owner of the policy. So when the policy matures the proceeds are first paid to the lender and if there is any balanace amt left it will be passed on to you. Not all endowment policies are eligible for a loan amount. You need to speak to the lender for this.
How do you create an endowment fund?
To create an endowment fund, you need to set it up with a lawyer as you would a will and testament. The specialist will walk you through the steps needed to get the fund you want.
What determine the need for policy?
someone identifies a problem
Can someone else buy insurance for a lease car?
Yes but you would need to have the lessor and the lessee as additional insureds on the policy.
How do you set up an endowment fund?
Before setting up an endowment fund, you really need to talk to a trusted accountant. He/she would be able to help figure out the amount of an endowment fund that you gift can sustain, the best way to proceed, and also be able to refer you to a lawyer for any legal documents needed to continue.
Can someone in prison be insured?
I've been in the Insurance Business 30 years, my Dad & Grandfather both were too. They taught me that if the client has the money for the premium, we have the policy. What is the need for the coverage?
How would you deal with a coworker who broke policy?
If they broke a policy, you need to give them a warning. If they break the policy again, you can fire them.
Why would a person only get car insurance for a day?
A person may need cover for a single day if they have borrowed a car from someone whose own insurance policy does not cover this. Similarly, it could be taken out by someone who has lent a car to someone else.
Why is there a need for policy?
I would like to have an update on this policy, as I'm getting older, and would like t have everything ready for my spouse
If a son who was on car insurance policy now lives somewhere else but drives second vehicle what is best way to handle insurance?
The answer lies in the titleholder of the vehicle. If you are still the titleholder, then you will need to have the car under your policy and have him listed as a driver. If he is the titleholder, he will need to insurance the car under his policy. If that vehicle injure someone or cause damage to someone's property, the other party will sue the titleholder. If you are both titleholder, then I would suggest you sign the titleholder to him.
Are your insurance policy active?
You would need to contact your insurance company and ask them if your policy is still active.
