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Endowment and Mortgage Endowment Promise?
TurnaroundSue
Posts: 1,214 Forumite
Hi All - We are thinking of cashing in our SL endowment policy and I have been in contact with company who have given me the figures I need. However, in their letter it states that we are eligible for their Mortgage Endowment Promise - anyone knows what this is/means?
I also got the same figures off SL about 2/3 months ago, and we then decided not to sell it but keep it for its duration (4 years). However, with the market the way it is I panicked and asked for the figures again, this time saying that we would definitely sell the policy on - expecting the figures to be lower than before - thought we'd get out now before the market dropped too low. However, was surprised to learn that the figures they quoted this time is £200 MORE than before?
My DS is now 15 and really would like to go to america next year before he it too old to want to come on holiday with his mum and dad, and the only real way of doing this is to sell the policy - but now unsure if selling it/cashing it in is the right thing to do and really need to know more what the endowment promise means?
Any help/advice anybody can give us is very much appreciated.:T
I also got the same figures off SL about 2/3 months ago, and we then decided not to sell it but keep it for its duration (4 years). However, with the market the way it is I panicked and asked for the figures again, this time saying that we would definitely sell the policy on - expecting the figures to be lower than before - thought we'd get out now before the market dropped too low. However, was surprised to learn that the figures they quoted this time is £200 MORE than before?
My DS is now 15 and really would like to go to america next year before he it too old to want to come on holiday with his mum and dad, and the only real way of doing this is to sell the policy - but now unsure if selling it/cashing it in is the right thing to do and really need to know more what the endowment promise means?
Any help/advice anybody can give us is very much appreciated.:T
When you were born, you were crying and everyone around was smiling. Live your life so at the end, you're the one who is smiling and everyone around you is crying! :rotfl:
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