Paying Up An Endoment

AGAR_2

if you pay an endowment up do you still have to wait for its maturity date

feisty1

Paid up means you don’t pay any more endowment premiums but the policy is left to mature on the original date for a lower amount. The future bonus declarations on the policy will reflect the reduced number of premiums that have been paid, but there should be no effect on the bonuses declared to the point at which premiums ceased. You need to check with yr insurance company that there are no penalties for doing this. You will also need to ensure that you have sufficient life cover in place to replace what you are stopping