Should I keep my Endowment with Winterthur

Normal_Bob

I have had an endowment policy with Winterthur since 1998. Initially it was for an endowment mortgage, but after two and a half years I sold that house and bought my current property on a repayment mortgage. But I kept the endowment going thinking it would just act as a savings with a payout after 25 years.

Should I now try and sell or cash in this endowment? I've been paying £97/month since may 1998 - more than 10 years of payments.

In april I got a letter from Winterthur saying there was a significant risk of a shortfall, but since the endowment is no longer for paying off a mortgage I thought that keeping it could be still a good idea.

I have read in another forum entry that having a monthly payment into an endowment in a stock market crash can be a good thing because my money will buy more each month.

Given all that is going on in the markets and banks at the moment any advice - keep it or sell it or whatever - will be helpful.