endowment policys

lany_2

i am thinking of surrendering my endowment policy and would like some advice.

dunstonh

board is not authorised to give advice and even those of us that are cannot do so. Discussion is fine though. What would you like to discuss?

EdInvestor

Dunstonh is just being pedantic.Post some more info about the endowments.

Provider
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
Maturity date
Maturity forecasts
Interest rate payable on mortgage

dunstonh

Dunstonh is just being pedantic.

Just being compliant you mean. Unlike you I have a liabilty for advice I give. When you give out incorrect information, if someone has acted on it they are stuffed.

We dont know what the OP actually wants to know specifically, hence why I asked what he/she wanted to discuss?

EdInvestor

dunstonh wrote: »

Just being compliant you mean. Unlike you I have a liabilty for advice I give.

But you don't give "advice" (technical term :rolleyes: ) on this board, do you, so you have no liability and they have no recourse.

MSE Terms and Conditions of Use
It's important to let you know information on this site does not constitute financial advice. All information is based on journalistic research and analysis rather than tailored advice aimed for individuals. Decisions should be taken only after considering the effects of all specific circumstances.

What you say is just information and opinion, same as everybody else. We all know that, so why confuse people?

dunstonh

But you don't give "advice" (technical term :rolleyes: ) on this board, do you, so you have no liability and they have no recourse.

Doesnt stop people trying to find out your identity and putting complaints in. Clarification on advice and discussion was recommended to me by the regulator years ago and i am going to stick with that. They trump your opinion.

What you say is just information and opinion, same as everybody else. We all know that, so why confuse people?

Didnt stop people having a whinge at Martin and blaming him for "advice" he gave out when no such advice was given.

lany_2

EdInvestor wrote: »

Dunstonh is just being pedantic.Post some more info about the endowments.

Provider
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
Maturity date
Maturity forecasts
Interest rate payable on mortgage

i have had my endowment policy for 18years , i have 7years left to go and was going to surrender it not sure if is the right thing to do or not.

fred_n_freda

What will you gain from surrendering it? Do you desperately need the cash from surrendering it? Could you get that cash from elsewhere? I do know how you feel.
I've been stuck with an endowment that is going to leave me with a shortfall when my mortgage finishes soon, and it is annoying that I keep paying for something that might not bring in much more than I've paid into it over the years - BUT, whenever I've taken professional advice I've ALWAYS been told to leave it as it is as it might recover or earn a good 'terminal' bonus when it matures. If I had cashed it in at various times I've considered it I wouldn't have got back as much as I'd payed into it. Now it's only got two years to go I am finding that its value is picking up a bit, and an independent advisor also reassures me that it will probably be OK and that terminal bonuses will lessen or even eliminate any shortfall.
As I asked earlier, what will you gain from cashing it in - and what will you lose?
freda

EdInvestor

lany wrote: »

i have had my endowment policy for 18years , i have 7years left to go and was going to surrender it not sure if is the right thing to do or not.

Please post the extra info if you want an opinion.