Abbey Life Endowment MortgageMaster...What to do?

podicus

Hello,

I have the aforementioned endowment since about 1997. A few years later I moved house and remortgaged to a captial/interest one. I thought it would be a good idea to keep the endowment going as it could be a nest egg type thing in the future....

I pay about £74 per month for a £42k endowment. Of course I get letters each year saying that your endowment is at high risk of a shortfall...blah blah blah. Well, this is no longer applicable.

Well, seeing as the worlds financial system is killing itself and dragging most of us down with it - what should I do with this endowment...?

Should I keep it, pour the money into it and pray that it will pay more than I paid into it.

Surrender the endowment and probably get back less than I put into it.

Or what?

Thanks for reading, and many thanks if yer gonna reply :beer:

Cheers
Marcus

EdInvestor

Post some info about it

Guaranteed sum assured
declared bonuses
Surrender value
Monthly premium
Maturity date
Maturity projections

Interest rate payable on mortgage (it doesn't matter they are no longer linked)

podicus

Ok, some bits of information;

1. Guaranteed sum assured;
not applicable.

2. Declared bonuses;
not defined.

This is a managed fund, with no bonuses or with-profits.

3. Surrender value;
Haven't asked, yet.

4. Monthly premium;
£74.

5. Maturity date;
July 2023.

6. Maturity Projections;

They have mentioned projected maturity;
4% pa = £26k (-£16k)
6% pa = £33k (-£9k)
8% pa = £41k (-£1k)


Hope this helps. I am not after a definitive/guaranteed statement, but a little advice from someone in the know.

Thanks again.
m