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Glossary   >   L   >   "Low cost endowment" Definition            Low cost endowment A savings plan which includes decreasing term insurance. It pays out at the end of the term, and also if you die within the term. Usually used to pay off an interest only mortgage. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Low cost endowment - A savings plan which includes decreasing term insurance. It pays out at the end of the term, and also if you die within the term. Usually used to pay off an interest only mortgage.