Endowment Plan

Endowments are long-term, regular savings plans with built-in life cover.

NFU Mutual's Endowment is a with-profits investment and so will normally benefit from the addition of bonuses over time.

Whatever you are saving for, you can start from a minimum premium of just £20 per month or £200 annual premium - and there is currently no maximum.

Traditional savings plan

When it comes to making long term savings on a regular basis, traditional endowment plans remain a popular choice because of the added benefit of valuable life cover.

At the end of your endowment plan, provided you have paid all your premiums, you will receive the sum assured plus any bonuses that have been added over the years, as a lump sum. If you want to cash in your policy early however, the cash-in value may be less than the total premiums you have paid in, particularly in the early years.

The lump sum payable depends on our investment performance and our expenses, so it may be less than you had hoped for.

Built-in life cover

If you die during the term of your plan, the sum assured and any bonuses, which have been added, will be paid out as a lump sum. You can arrange your plan to cover the lives of two people if you wish, in which case, the benefits will normally pay out on the death of the first life assured.

Tax advantages

Currently, the lump sum payable at the end of your plan or upon death would normally be free of UK Income Tax and Capital Gains Tax. Any liability to tax is met within the fund itself. This information is based on NFU Mutual's understanding of current HMRC practice and legislation, which are subject to change.

For other products with a regular savings facility, try our ISAs or Flexibond.

Endownment Plan frequently asked questions Find out more information about NFU Mutual's Endowment Plan frequently asked questions.

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