insurance policy question

[amylw1]

hi,

hopefully some1 can help me.

when i was younger my parents took out an insurance policy over 15yrs that was guaranteed to pay out. anyone know what type of policy this is?

i'm trying to sort out a similar 1 to cover the cost of my mortgage as i cant get off interest only at the moment.

 

[Cakeybabes]

Hi

I think it's called an endowment (sp?) policy. My mum and dad did one for me too that they paid into weekly and then it matured when I was 16 and I got a lump sum. They did special endowment mortgages years ago but there were problems with the advice customers were given by their financial advisors so I don't know if they still do them.

Hope that helps