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Regional differences in attitudes to endowment policies

Attitudes to endowment policies vary around the UK, according to a survey conducted by Surrenda-Link.

The survey highlights consumers are concerned about shortfalls, endowment mortgage credibility and policy selling ability although attitudes vary in different regions.

The biggest concern for shortfalls came from East Anglia with 54 per cent saying they were worried that their endowment policy wouldn’t meet its original maturation target.

Endowment mortgage credibility is a great worry for consumers in the East Midlands where 76 per cent of homeowners believe endowment mortgages had lost credibility.

Of those who encashed their policy 43 per cent of Scottish consumers said they surrendered it to their life office rather than through a third party

The same was true in other parts of the country with the majority of people in the South West surrendering their policy rather than selling it.

The greatest lack of awareness was in East Anglia and the East Midlands where 94 per cent and 86 per cent respectively were unaware of the option to sell.

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