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Advice / comment re Endowment policy
Comments
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Proj final amount 4% £36,100
6% £42,500
8% £49,400
If you cashed in the policy and used the lump sum to reduce the mortgage, also increasing the mortgage payment by the premiums to maturity, then you would end up with 41,409.
Given the problems with the life cover and the longish period to maturity it may be best to stick with this endowment for the moment, and review the poisition if you are forced to pay a significantly higher mortgage interest rate next time around.Trying to keep it simple...
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