How do I decide whether to cash in my endowment?

JollyNolly

Still haven't cleared this one up. I've just spoken to Norwich Union, who now tell me that the cash-in value of my endowment is now £18.3K. How did it jump like that? I really wish I understood these things! Should I leave it where it is after all??

BACKFRMTHEEDGE

Hi Jolly (or not so) ....I have a NU policy taken out in 1987....my figures are similar to yours. I've been offerered more for it than it's surrender value by a number of companies. On that basis I decided to keep it- that is: if someone else is prepared to buy it, it must be good . Don't know if this is good logic or not. However, we are in a position to take a little risk...we don't have any loans except mortgage and use all our ISA allowance. Know what you mean though, it's a gamble...DEAL or NO Deal? :money:

JollyNolly

What sort of difference between the surrender value and the sale value? I've been surprised at the difference in the value of the endowment between February and April - I'm basically getting quoted about £1500 more for the surrender value. I need the cash to pay off some debts, but if I can get a better deal by selling to a third party I'll give some serious consideration!