Friends Provident has announced that it is to increase payouts on some of its endowment policies, saying that improved stock market performance has allowed it to improve its final bonuses on maturing policies.

A typical endowment mortgage holder with a £50 a month policy over 25 years will now see a final payout of nearly £39k, an improvement of just under a thousand pounds.

However, the payout is still a long way below the figures for this time last year, where a maturing policy like the one above would have paid out over £42k.

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