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Moneyextra.com Dictionary

Penalties on Policy Surrender

If borrowers surrender an endowment policy when they move house and are then persuaded to start another one they are almost inevitably going to find the endowment choice more costly than if they had chosen to adopt a straight repayment facility.

This is also the case with some other types of policy that have an investment element.

See Also Moneyextra.com mortgage comparison service

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2009-02-17 00:00:00 © Moneyextra.com