An endowment is a combination of an investment and a life insurance policy.
It's designed to pay out the final value of the investment when it matures. Or, should the worst happen before the policy matures, it will pay out a minimum of a fixed lump sum death benefit.
Related frequently asked questions
Will I receive the money when my policy matures?
Generally, we pay you as the original policyholder, except when:
- the policy is assigned to another person or company, in which case we will pay the money to them
- the policy is held under trust, in which case we will pay the trustees
- you have asked us to pay the money to a solicitor where they are accepting money or acting on behalf of the policyholder. If it's a joint policy and the policy holders are no longer together then a percentage to each may be paid.
I didn't take out my policy with Aviva. How can I be sure that the mergers, takeovers and size of Aviva haven't affected my return?
We're a financially strong company, which is reassuring in these difficult economic times.
We're fully committed to treating customers, as a group, fairly at all times. If you are invested in with-profits you may be already aware of our With-Profits Committee, which brings independent expertise and oversight, to make sure fairness is fully considered in our with-profits decision making.