Surrender or stay? Phoenix ex Royal Life endowment

lesleyg1

Any advice out there please on what to do with my 3 ex Royal Life now Phoenix endowments. I have tried to get an online quote from AAP but they are not interested!
i do not have forcasted maturity values to hand, but in the recent mailing from them they quote a terminal bonus at present of 15% but i guess this may go down?

here are the details

sum assured 880
bonuses 876
surrender val 4000
maturity date 2010

sum assured 3635
bonuses 3620
surrender val 16000
maturity date 2010

sum assured 5922
bonuses 4400
surrender val 10870
maturity date 2012

many thanks

In addition , these were meant to pay off a mortgage totalling 45000 which is now no longer outstanding.

EdInvestor

Oh dear, three, how depressing
You can't sell these endowments, they have to be surrendered.

What do the maturity forecasts indicate? If the top projection is 5% or less, you'll be better to dump them and put the money in the bank.

FiscalFanny

Hi

Not the same I know but we had our pensions with Phoenix (ex Alba, ex LAS) and because now they are closed to new business, we were advised to move away with far better forecasts and past performance from other providers. Made sense to me.

Fanny x

lesleyg1

thanks for your comments, still not sure what to do, not seen anything from phoenix relating to forecasts for over a year!

EdInvestor

You need to call them up and ask for the forecasts.