Endowment Questions - not the usual ones!
31 May 2007, 02:55 PM
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Endowment Questions - not the usual ones!
Questions
1. When my endowment matures and I get a nice lump sum from my insurer, will it be taxable? I don't think it is, but I just wanted to check.
2. Also despite reading up about terminal bonuses I'm still not sure what the bonus is based on. Is it the total in your policy at maturity e.g.
Bonus of 20% on a total fund of £30k would be £6k,
or something else (e.g. final year contibutions only)?
1. When my endowment matures and I get a nice lump sum from my insurer, will it be taxable? I don't think it is, but I just wanted to check.
2. Also despite reading up about terminal bonuses I'm still not sure what the bonus is based on. Is it the total in your policy at maturity e.g.
Bonus of 20% on a total fund of £30k would be £6k,
or something else (e.g. final year contibutions only)?
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