In the UK, an endowment policy is meant to ensure that a home owner will be able to fully pay off his or her mortgage. Ideally, an endowment policy holder will find out that things work out this way and that paying off the mortgage is no problem.
But it doesn't always work that way. A lot of endowment policy holders who purchased their endowments in the 70's and 80's are finding they've run into a shortfall. That's put endowment selling at a high point, with lots of people needing to sell off their endowments to cover the balance of their mortgage.
Some are even having to surrender their policies for ridiculously low prices. The government has let it be known that endowment selling services will help sellers get better returns. So, that's where many endowment policy holders are turning. And, for many, by selling to an endowment selling service, they are getting 35% more on their returns.
It must be hard living in a place where the cost of living is so high. I know the time I've spent in the UK has made me realize just how incredibly hard it can be to make ends meet there.
So, cheers to all you blokes who are struggling through it. All the best to you.
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