abstract:An endowment policy is a life insurance contract designed to pay a lump sum after a specified term (on its 'maturity') or on death. Typical maturities are ten, fifteen or twenty years up to a certain age limit.
The mortgage is a repayment mortgage and I have an endowmentpolicy which at it's lowest prediction is set to pay off the mortgage (including the arrears) with a surplus (one of the few).