Payday Express
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Endowment Policy Bonus Rates
It's that time of the year again when insurance companies start to publish their new endowment bonus rates for 2008. Many optimists have hung onto their endowments hoping that they would increase in value, but unfortunately, more than 5 years of continuously lower rates have occurred. Now even the most hearty of hangers-on, are doubting this long term trend will change.
There are a group of very interested investors powering the market demand for endowment policies, yet this market may not continue for too many more years. This makes it even more imperative for policy holders to at least get a quote on the value of their policy now and seriously consider selling. Endowment policies were a great idea, however economic conditions have been slowly deteriorating the notion that they will retain their value.
About Endowments
With profit endowment policies were savings vehicles that carried some life cover. They were invested in equity and fixed interest assets that provided a smoothed return. The security of these investments are of interest to some major investors. That's what has driven such a strong demand for endowments. The current trend however is to lower endowment policy bonus rates. Complaining about the low bonus rates may have an effect on government policy, however it won't do much for the endowment policyholder personally. Once rates are announced, the rate is set and won't be changed.
The FSA (Financial Services Authority) has established that your Life Company is allowed to project the estimated future maturity value of your endowment policy. Those re-projection estimates are based on assumed standard growth rates which may vary from 4% to 7%. At the end of the endowment policy term, your Life Company will calculate the actual maturity value based on bonus rates at that time. These rates has been falling and that trend may continue.