Unitised with Profit Endowment

A fusion of with profits and unit linked type policies. The premiums secure units in the life with profits fund. These unit prices increase by 1/365th each day. Once declared these bonuses cannot be removed.

This type of endowment offers many of the advantages of the unit linked policy. It is a simple idea with the charges clearly shown. It is flexible and easy to adapt to new loans, changed circumstances or early repayment. Waiver of premium options may also be available.

It is a lower risk investment than the unit linked approach as a result its growth may be more conservative. It is not guaranteed to repay the full loan at maturity, but once bonuses are added to a policy they are guaranteed. There may be a terminal bonus and a surplus at maturity. The policy guarantees to repay the loan on early death of the assured.