>> They were oversold in the early days. Promises, probably unachievable, of a large excess after
>> the mortgage was paid off, few warnings of a possible shortfall.
They were massively oversold up to the nineties. Once tax relief on the premiums was removed and investment growth slowed they looked much less certain. I had to overcome outright scorn from Estate Agents, who would get big commission on endowments, because I insisted on a repayment mortgage. My theory that I was better of investing spare cash in Unit Trusts or the then equivalent of ISAs for investment growth was met with the outright lie that endowments did not involve the stock market.
My Father had taken one out c1960, long before they were fashionable. In spite of him having a full 25 years in a period of pretty good growth and getting tax relief at well over the then basic rate of around 35p+ the excess was only enough to get top of the range Honda Accord rather than a more basic model.
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