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endowment mortgage |
Also found in: Wikipedia | 0.01 sec. |
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endowment mortgage
n (Business / Insurance) an arrangement whereby a person takes out a mortgage and pays the capital repayment instalments into a life assurance policy and only the interest to the mortgagee during the term of the policy. The loan is repaid by the policy either when it matures or on the prior death of the policyholder Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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