<%@LANGUAGE="VBSCRIPT"%>
<%
option explicit
%>
<%
dim rsArticles, sSQL, gStr
set rsArticles = server.createobject("adodb.recordset")
rsArticles.cursorlocation = 3
sSQL = sSQL & "SELECT TOP 10 Articles.Article_ID, Articles.Article_Title, Articles.Article_Excerpt, "
sSQL = sSQL & "Articles.Article_Content, Articles.Article_Posted, Articles.Article_Comments, "
sSQL = sSQL & "Articles.Article_Images, Categories.Category_ID, Categories.Category_Title, Users.User_ID, "
sSQL = sSQL & "Users.User_Name FROM FB_Users AS Users INNER JOIN (FB_Categories AS Categories "
sSQL = sSQL & "INNER JOIN FB_Articles AS Articles ON Categories.Category_ID = Articles.Article_Category_ID) "
sSQL = sSQL & "ON Users.User_ID = Articles.Article_User_ID WHERE Article_Status = 1 AND Article_Level = 0 "
sSQL = sSQL & "ORDER BY Article_Posted DESC;"
rsArticles.open sSQL, adoConn
Do While Not rsArticles.EOF
gStr = gStr & "
" & vbCrLf
rsArticles.MoveNext
Loop
%>
<%=gStr%>
Low cost endowments is designed to keep the cost as low as possible and is a mixture of decreasing term insurance and a with profit endowment contract.
The amount payable on death is the greater of the basic guaranteed death sum insured and the basic sum insured plus bonuses.
The ‘with profits part’ of the contract has a lower basic sum insured and attracts bonuses during the period of the policy. The value of this policy rises as bonuses are added. The guaranteed sum insured on death is supported and cover by the decreasing term insurance. The amount of term insurance needed reduces as the value of the with profit policy increases. The basic sum insured is pitched at a level so that based on growth in the life insurance fund at say 80% of the life offices normal growth rates, it will equal the guaranteed sum insured by the maturity date of the policy.
These policies were introduced as a cheaper way of covering mortgages with the guaranteed death sum insured matching the mortgage amount. Because the basic sum insured is lower than with a normal endowment policy the premiums are cheaper. The guaranteed payment on death protected the mortgage but there is no guarantee on the final maturity value of the policy, which relies on the life fund performance and how conservative the life office was when estimating the performance of the fund.
These policies often contain the right for the policy holder to convert the difference between the guaranteed sum insured and the basic sum insured so that the basic sum insured is increased up to the level of the guaranteed sum insured subject obviously to the appropriate increase in premium.
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Low Start Endowments