Axa Sunlife with Profits fund question

WelshWoofer

Hi
I have already posted this on the savings board but didn't get a response so was hoping that someone here could help?

I have had an Axa MoneyBuilder Plus (later remaned to the Axa Sunlife with Profits Fund) for 10 years and its due to mature in 2013.
I've called them today to enquire about how much its currently worth and apparently the "surrender value" is now approx £7000.
As its linked (I think) to the stock market would I be better off cashing it in and putting it into the highest interest savings account that I can find?

I don't need the cash right now - its a fall back contingency plan in case of redundancy etc - but I obviously would like it to earn as much as possible whilst still paying in approx £100 a month.

I'm not overly familiar with the financial world and would appreciate any help anyone can provide

Thanks in advance!

whatatwit

Hi, I don't really think that anyone can give advice on this sort of matter.

None of us really know what the stock market is going to do and it's quite possible that it was worth more 12 months ago than it is today.

Personally I think it's down to how much risk you are willing to take. You could continue to pay in for a further 4 years (approx 5K) and it be worth less than it is today, or it could be worth 30K :rotfl:

At the moment, I'm looking to cash in a policy, which has dropped in value by a fifth in 12 months, I'd rather add to it the money I would have paid and know what it is worth.

Do check that there are no tax implications to cashing it in early and if there is a life cover element, look to replacing that.