cash in or not

davyquinn

to keep it short I have had awith profits endowment for 10yrs @ £229/month this includes critical illness, and have paid in £29000. Surrender value £21098 but two months ago before bonus added was £21558. So I'm thinking rather than pay in for a further 10yrs cash it in pay it towards mortgage and use monthly payments to overpay mortgage. I would need to arrange life cover out of this though. Anyway I'm no expert but seems logical to me to do this but maybe logical is the wrong way to go. Would someone with experience in these matters be willing to advise either yes or no or have a better solution. By the way its with Friends Provident and has a shortfall of £24000. Many thanks in anticipation to a reply.

EdInvestor

First you would be wise to do some research on the cost of replacment life/illness cover.