Eagle Star Endowment Misery

Kelvin

I have an Eagle Star Esistart Low Cost Endowment Plan which started in 01/11/1988. It is no longer attached to my Mortgage, and of course will fall far short of the 45k + profits I was expecting. Monthly premium of £58.70. Eagle Star has offered me today cash in valuation of £14330.00!!!!! This is some £1300 less than they offered last August :eek: Tried to sell the policy privately last August, but could not get any takers, then things got busy etc and I am now looking to see if worth cashing in the endowment. Projected final amount based on 3.75% growth is £20.800. I have 7 ½ yrs of payments to end of policy which gives total premiums to end £5283.00.
(£14330 + £5283= £19613)
Now, here’s the thing; I don’t think it’s worth paying another £5k+ to make possible £1200 more in 7 yrs time, assuming I get 3.75% growth. More likely to be 3% which gives a projected final amount of only £19600!
A lot of the sites offering endowment selling wont touch an Eagle Star policy for some reason.
I have looked into claiming compo re miss selling, but I cant remember what advice I was give about risk, it was my first house purchase and struggled to get enough money to buy, it seemed the cheapest thing to do. Use the financial advisor working in the estate agents...yeah I know I know, :mad: much wiser now, but like said was a newbie house buyer.
I would be grateful to anyone who can offer me some advice.
Thanks for reading all this. Sorry to go on but wanted to get all the facts down.
Cheers. :beer:

Kelvin

Policy new sold. Only company interested was Zurich, got 15.5k

EdInvestor

You mean you surrendered it? Zurich are the owners of Eagle Star.

Kelvin

EdInvestor wrote:

You mean you surrendered it? Zurich are the owners of Eagle Star.

Yeah thats right, thanks for that, really useful.:rolleyes:

dunstonh

Kelvin wrote:

Yeah thats right, thanks for that, really useful.:rolleyes:

Ed is factually correct. Eagle Star don't exist any more and you didn't sell the policy. You surrendered it.

Whilst you may know what you meant but worded it wrong, others may read this thread and think they can contact Zurich to buy their policy. So Ed posting the correction saves unnecessary confusion.

billy_1

i have an Eagle star now Zurich endowment, when they took over Eagle i think they offered really good mis-sold payments i complained and got a really nice cheque£££££££££