Endowment. Should I Cash In?

merryknight

I have a Prudential (originally Scottish Amicable) endowment policy. I changed to a repayment mortgage about five years ago and kept the endowment as a nest egg for the future. I received a surrender value in June.
Here are the details:

As Of 10th June 2008
Prudential (Originally A Scottish Amicable) Policy
10 With Profit Clusters
Surrender Value £14437.41
Claim Value On Death £35000
Loan Value (Interest Charged At A Rate Of 8.00% p.a) £7260.00
Paid Up Value £9480.15
Monthly Payment £46.20


Projected Values
Assuming A Further 9 Years & 1 Months Premiums Paid
Possible Maturity Benefit On 15th July 2017
£25600.00 (4% p.a Return Assumed)
£30000.00 (6% p.a Return Assumed)
£35100.00 (8% p.a Return Assumed)

Possible Paid Up Maturity Benefit On 15th July 2017
Assuming No Further Premiums Are Paid
£20000.00 (4% p.a Return Assumed)
£23800.00 (6% p.a Return Assumed)
£28200.00 (8% p.a Return Assumed)

Is my policy doing okay, or should I cash it in?

Debt_Free_Dreamer

Your policy looks very very similar to my husbands, so I would be interested about this too as we are unsure what to do.

EdInvestor

In the first instance I suggest you seek a sale quote here:

https://www.appm.org

from the endowment brokers.

If they will offer you a good premium to the surrender value, then it's an indication the endowment is expected to be a good performer.Pru/ScotAm endowments are the best performers in recent years. However even these endowments are currently not doing much better than cash and of course their returns are not guaranteed.