Have two endowments: want to sell one..but which?

notanexpert_4

I've asked you lot about one earlier in the year.. haven't done anything yet.

I have two endowments, NO mortgage attached. If you were to keep one and cash the other which would it be?

Endowment No 1;
With Phoenix(formerly Royal Life)
matures end 10/2012
target value £21,500

projected maturity value (in 2007 - they say I can't have another one now)
was £15,800 @4%

Surrender value yesterday: £11,035

monthly payment: £34.30


Endowment No 2:
With Friends Provident
matures end 04/2011
target value £27,075

projected maturity value (in 2008 - they(unlike Phoenix) seem able to send a projection yearly) was £18,200 @4%

Surrender value yesterday: £13,411

monthly payment: £40.42


Which one to keep? Which to sell?

Thanks in advance.

koexelek

It would depend whether they are "with profits" or "unit linked".

You are unlikely to get many takers if they are " unit linked"

notanexpert_4

thanks for reply..

they are "with profits"

koexelek

That's a good start.

Probably the best thing to do is to ring a company who buy endowments, and get a quote on each. There is usually no obligation or cost to do this.

EdInvestor

Try here for a sale:

https://www.apmm.org

Can't do a calculation without maturity forecasts.What is the guaranteed value of the Phoenix endowment? ( guaranteed sum assured plus declared bonuses.) It is unlikely that there will be much extra over that at maturity.

Datasafe_2

I have a Pheonix ( ex Brittannic ) endowment.

LSAendowments offered me about £1500 more than Pheonix to surrender, the highest quote from about 5 companies I tried.

http://www.lsaendowments.com

EdInvestor

Datasafe wrote: »

I have a Pheonix ( ex Brittannic ) endowment.

LSAendowments offered me about £1500 more than Pheonix to surrender, the highest quote from about 5 companies I tried.

http://www.lsaendowments.com

How long did they take to process the sale?

notanexpert_4

thanks everybody,

edinvestor, I will check the guaranteed stuff later, (got to cook dinner now - oh dear the mundaneness of it all) and post it.

I was thinking on the way home from work that, maybe the phoenix one is the right one to sell. I have four years to try to do better than Phoenix but only two with the Friends Provident one. This is probably totally flawed logic from a harrassed housewife but...have patience with me!

Datasafe_2

EdInvestor wrote: »

How long did they take to process the sale?

Its in process. They said about 4 weeks, its been 2 so far.

notanexpert_4

Edinvestor, in answer to your question.

Phoenix;

guaranteed sum assured £6579
previous bonuses £4961.30
this year's bonuses (to 31.12.07) £28.85

notanexpert_4

any opinions anyone...on which one to sell?


am applying for a valuation for the Phoenix policy from the two companies you lot recommended.