Should I sell my endowments

techteach

Newbie here, so go easy!

trying to decide wether to sell 3 endowment policies (or cash in maybe).

all are about to finish in 2 years but are performing poorly. Had payouts for mis selling years ago, so a bit has been made up.

got a fixed for 8 more years offset mortgage with 1st direct (very happy with it). tarting wherever possible (credit cards etc).

getting the cash out of the endowments will take me to approx 100% offset and give me the chance to really start paying some of the capital off.

But do i cash in, sell on or wait till they mature?

Any advice would be great.

PS been following the site for ages (great) but never taken the plunge to dive in.

EdInvestor

Post some info about them#

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

techteach

Thanks for the offer of help. I think youve answered me with your reply to a similar post by majestic.

I'm going to get a quote for selling.

Only thing im not sure about is if my endowments have a maturity bonus as well as the normal bonuses.

i have 2 with prudential and 1 with standard life

thanks

:rolleyes:

EdInvestor

techteach wrote: »

Only thing im not sure about is if my endowments have a maturity bonus as well as the normal bonuses.

i have 2 with prudential and 1 with standard life

The amount of accumulated terminal bonus is included in the surrender value.The trouble is that TBs are on a sharply declining trend due to the fall in markets over the past 2 years. By the time your policies mature, any existing TB may have disappeared (more likely with SL) or reduced (more likely with the Pru).In that case you have been paying your premiums for nothing.