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Whipsaw Glossary

Currently viewing the definition of: Unitisation
 
 
 When an investment trust is converted into a unit trust. 
 


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    • Endowment Policy
      A life insurance and savings policy taken out for a fixed term. The sum assured is payable at maturity or on death if earlier. Traditional endowment policies were on a with-profits basis. Each year a reversionary bonus is added to the sum assured and a terminal bonus is added at maturity. Neither bonus is guaranteed. Endowments were often sold in relation to interest only mortgages, whereby the policy would repay the capital at the end of the mortgage period. In recent years the sum assured plus bonuses has not been sufficient to repay the capital and so endowment mortgages are less popular.