ENDOWMENTS stick or change

AGAR_2

hello
i have 2 endowments both with nu not used against a mortgage just as savings plans start dates were 91 and 96, 37 and 40 pounds a month called last week surrender values were 9975 and 4995.no dets over than 20k left to pay on mortgage start date was nov 96 now a repayment for at least 5 years .so the question is do i cash in invest long term plus pay the same in each month or keep going with them till full term.
all advise wecome.

AGAR_2

Anybody please!

EdInvestor

Post some info about them

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

Mediaboy

I know there are a load of different arguments but I'm keen to pay off a personal loan at 6.2% and by cashing in both we could do that and leave us with about £4K to invest plus £200 (the cost of loan repayments and the total of the two premiums for the policies) to invest in long term savings plan. We are now on a full capital and repayment mort fixed for 5 years at 4.19% so don't need to rely upon these policies to repay the mortgage.

1st policy is with Standard Life - A Unit Linked policy

Guaranteed sum assured - Doesn't have one as this type of policy doesn't apparently

Death Benefit is: 43.4K
Declared bonuses
Monthly premium: £75.18
Maturity date: July 2024
Maturity forecasts:
Low (4%) £28,100
Med (6%) £35.8K
High (8%) £45.6

Current value: £8.4K

2nd Policy - Pheonix (formerly Royal & SA)

Guaranteed sum assured: £4612
Death Benefit: £9025
Declared bonuses: £366
Monthly premium: £24.69
Maturity date: Aug 2017
Maturity forecasts:
3.75% Growth: £6K
4.5% £6.4K
5.25% £6.8K
Current value: £2.8K

Any advice would be much appreciated...?!

Thanks

dunstonh

With the unit linked one, what are the investment funds are you in? (unit linked actually offer more potential and looking forward from where we are now, there is a good chance that unit linked one could hit and exceed target by quite a lot).

The minute you say Pheonix, you just sigh and think the worst. Personally, I would use the lower rate (or even assume lower than lower) on this one.

Do you still need the life cover on either of these?

Mediaboy

Thanks. As far as life cover is concerned I have death in service which would almost clear our mortgage. As we don't have any kids I think further cover isn't necessary although may look at alternative arrangements for life cover if I did surrender both. Incidentally the larger unit linked policy also has built in critical ilness.

All I know is that 75% is allocated to a managed fund with 25% to the life with profits fund.

Does that help..?

Mediaboy

dunstonh wrote: »

With the unit linked one, what are the investment funds are you in? (unit linked actually offer more potential and looking forward from where we are now, there is a good chance that unit linked one could hit and exceed target by quite a lot).

The minute you say Pheonix, you just sigh and think the worst. Personally, I would use the lower rate (or even assume lower than lower) on this one.

Do you still need the life cover on either of these?

Actually just found some old information on the portfolio composition:
57.8% UK equities
13% Fixed interest
8.7% European equities
8.2% NorthAmerican equities
3.7% Cash
3.6% Pacific Basin
2.7% Japenese
2.3% Property

Cheers again!