Could do with advice r/e Standard Life Endowment

reliable65

20 year policy

finishes July 2014

pay in £82 a month


last value at July 2007 was £16900

waiting for latest statement which is in post !!!!


just rang them up and surrender value is £16,000


should i keep it or sell it?


if i sell it i can afford to pay off my £30000 mortgage of which im currently paying off at £226 a month (5.29% interest)

dunstonh

We cant give you any help until you get your statement and provide the details. Although the ability to clear your mortgage with it would be attractive.

reliable65

ok thank you

will post when i get statement

reliable65

ok just got the paperwork-is it wise to cash it in now and pay it off mortgage

quotation of surrender value

unit value £15788
final bonus £257.45

total £16,035

benefit type

unit linked endowment- exp date 18 july 2014 - premium £82.72 monthly

the plan is invested in the LIFE WITH PROFITS FUND

ILLUSTRATIVE VALUES

LOW £23,500

MID £25,500

HIGH £27,500

FUTURE PAYMENTS TO PAY £5294.08


Life cover for £36000

Is this enough info?

reliable65

Any advice please?


a simple get shut of or keep it? will be ok

if get shut of- do i surrender or try and sell it?


thanks

EdInvestor

reliable65 wrote: »

LOW £23,500
MID £25,500
HIGH £27,500

if you cashed it in now and used the lump sum to reduce the mortgage, also using the premiums to overpay the mortgage to maturity, your return would be 26,442.

That's a no-risk return, so I would go for it, as it's above the mid level projection.

You won't be able to sell the policy as it's unit-linked.

reliable65

thanks edinvestor

will get on with it now

reliable65

Banging this up as I never got round to cashing it in lol

AS OF MARCH 2009
quotation of surrender value

unit value £15788
final bonus £257.45

total £16,035

benefit type

unit linked endowment- exp date 18 july 2014 - premium £82.72 monthly

the plan is invested in the LIFE WITH PROFITS FUND

ILLUSTRATIVE VALUES

LOW £23,500

MID £25,500

HIGH £27,500

FUTURE PAYMENTS TO PAY £5294.08


Life cover for £36000



I have just called them this morning and ...

AS OF NOW (TODAY)
quotation of surrender value

total £18,765



Im in bloody shock as I was expecting it to go down seeing as it went down £1000 from 2008 to 2009


How come its suddenly gained £2500?

Im glad i never cashed it in !!!!!