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Phoenix Escalator Plan
beepeevee
Posts: 7 Forumite
I have been paying into this plan for almost 25 years now. The monthly premiums are £18. It is an open-ended policy which provides life insurance, the nominal sum insured being just under £5000. The insured person is almost 63.
Bonus shares are allocated annually and the current surrender value, net of CGT, is over £14000, and, it seems, rising. At the time of the last Bonus Share Allocation Notice at the end of 2004, the value was £10400.
Is there a good time to surrender such a policy? If so, is there anything available out there to replace it other than simple level term life insurance?
Bonus shares are allocated annually and the current surrender value, net of CGT, is over £14000, and, it seems, rising. At the time of the last Bonus Share Allocation Notice at the end of 2004, the value was £10400.
Is there a good time to surrender such a policy? If so, is there anything available out there to replace it other than simple level term life insurance?
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