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Your endowment options

What to do when your endowment matures

Doing what’s right for you

If your endowment is coming up to maturity, it's time to decide what to do with your money. We’ve got options for you to choose from.

Withdraw your money

Take the money from your endowment in cash

Move it to another investment

Move your money into an ISA, investment account or pension

Get some advice

Talk to a financial adviser about what's right for you

The money you take from an endowment may be taxable. You should understand the impact of this on the amount of money you actually receive.

How endowments work

An endowment is a combination of a long-term investment and a life insurance policy.

It's designed to pay you the final value of the policy when it matures.

Or, if you die before the policy matures, it will pay out a minimum amount to a beneficiary. 

When your endowment pays out, you can choose what you do with your money.

Take your money 

We’ll write to you 4 to 6 weeks before your endowment matures with full details of what you need to do to take your money. 

You will need to complete and return the 'payment release form' we send, along with any other documents we ask for. Once that’s all done we can pay the money straight into your bank account.

Invest your money

If you don’t need or want to use the money from your endowment right away, you could invest it.

Don’t forget that the value of investments can go down as well as up and you may get back less than you invested.

Look after your loved ones

When your endowment matures, the life cover it gives you comes to an end. So you may want to think about providing for your loved ones with some dedicated life insurance.

Need a little help?

Take a look at the most common questions people ask us about using their endowment.

Financial advice

If you’re not sure what to do when your endowment matures, you might want to speak to a financial adviser.

Contact us

Give us a call to talk about your endowment options.

0800 953 1777

Monday to Friday: 09:00 – 17:00

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