Endowment Compensation Offer

DaveT1602

DaveT1602 wrote:

The paperwork states
Cash-in value on 20 May 2005 = £2620.07
Current value without deductions = £2620.07
Cash-in value on 20 May 2004 = £2262.44

Also:
PLAN VALUE

Fund: UK Equity
Units you have: 284.64
Price of 1 unit at 19 May 2005: 664.2p
Current Value: £1890.58

Fund: European
Units you have: 150.07
Price of 1 unit at 19 May 2005: 486.1p
Current Value: £739.49

Total curerent value before deductions = £2620.07
Total cash-in value on 20 May 2005 = £2620.07

Payments into Plan: Paid in the period 21 May 2004 to 20 May 2005 = £198.00
Amount paid in since start (July 1992) until 20 May 2005 = £2557.50

Does this help at all??


Thanks for this - it's great to have some help trying to make sense of it all!

Can you tell anything from these figures?

EdInvestor

DaveT1602 wrote:

I always thought that it wasn't wise to surrender an endowment policy, as you would lose any terminal bonuses accrued?

Would your advice be to take the money from the FSCS, surrender the policy, and put the proceeds into the mortgage account then?

Yes.

There will be no terminal bonus on this policy, it is a different kind of endowment.