During the last few decades, many people have been persuaded to take out an endowment policy as a way to repay their mortgage. Many borrowers were advised that their endowment policies would at least pay off their mortgage, and leave them with a lump sum.
The reality is that most policies are falling well short of their target value, and millions of policyholders have received shortfall letters indicating that there is a risk their policy might not meet its target value.
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