We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
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?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.2K Banking & Borrowing
- 252.8K Reduce Debt & Boost Income
- 453.2K Spending & Discounts
- 243.1K Work, Benefits & Business
- 597.5K Mortgages, Homes & Bills
- 176.5K Life & Family
- 256.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards