The iWorld

I believe that if you're keen to take a mortgage on your property, then you should also think about taking an endowment policy on your mortgage. Endowment mortgage mortgage is a kind of mortgage when you take a mortgage as well as an endowment policy to safeguard yourself from the mortgage loan you've taken on your mortgage.

When you take an endowment policy on your mortgage, you make your mortgage lender happy. On the other hand, you've to pay an extra premium on your mortgage and that is the premium for your endowment policy. In uk endowment policies have been very common since 70s and 80s. Lot of people have been taking endowment policies.

An endowment policy is a kind of insurance policy that insures your mortgage loan. You take an endowment policy and if you're unable to pay your mortgage, the policy will be there to pay the mortgage loan you've taken! Its as simple as that. But not that simple. In the long term, it has been found that endowment policies have been unable to payback the complete mortgage loan. But UK government has recently taken an initiative where the buyer can be benefited and with that, lets hope the time comes back when you'll be totally protected with your endowment policy in hand!