should I surrender Prudential endowment policy now?

bogglingcat

I have a Prudential endowment policy due to mature in September 2013. The policy is for £25,000 and is not secured against a mortgage.
It includes £25,000 ife cover during the term for both myself and husband aged 59 and 70 respectively.
My question is.. should we surrender the policy now rather than risk waiting another 4 1/2 years when it may be worth nothing? We have a surrender offer from Pru for £15,000 but they have since reduced that by about £1,000. If we move fast we could get the higher offer. We are not desperate for the cash right now, but could be in two years time, and certainly will need extra cash in 22013. Also are there any possible chances of the Pru going bust so we get zilch back, heaven forbid.
Any thoughts and advice gratefuly received. Many thanks

dunstonh

when it may be worth nothing?

why would it be worth nothing?

Also are there any possible chances of the Pru going bust

Anything is possible but Pru are well capitlised and one of the biggest in the world. The same was said of AIG but Pru didnt get its fingers dirty in the same way.

so we get zilch back, heaven forbid.

It has FSCS protection of at least 90% of value with no upper limit.

Is it a Pru policy or a Scot Am policy?

chesky369

I had a really good surprise from my Prudential policy which matured last year - several thousand more than I had even expected and more than they estimated.

bogglingcat

dunstonh wrote: »

why would it be worth nothing?



Anything is possible but Pru are well capitlised and one of the biggest in the world. The same was said of AIG but Pru didnt get its fingers dirty in the same way.


It has FSCS protection of at least 90% of value with no upper limit.

Is it a Pru policy or a Scot Am policy?

it was a Scot Am policy. I thought policy may be worth nothing in exceptional circumstances only if Pru or country went bust! Thank you for letting me know it has at least 90% FSCS protection.