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Red Alert:High Risk of Shortfall
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scapegrace
Posts: 3 Newbie
Maybe a no brainer for people on the forum but I have a question. I received a letter today telling me that my £30,000 endowment is ‘red’ and I will shortfall by £2000 at the end of its term in exactly one year.
Should I use an available £10,000 to pay off a chunk or hang in? Or should I put the money in a fixed bond and use it to pay the shortfall?
Should I use an available £10,000 to pay off a chunk or hang in? Or should I put the money in a fixed bond and use it to pay the shortfall?
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scapegrace wrote: »Maybe a no brainer for people on the forum but I have a question. I received a letter today telling me that my £30,000 endowment is ‘red’ and I will shortfall by £2000 at the end of its term in exactly one year.
Should I use an available £10,000 to pay off a chunk or hang in? Or should I put the money in a fixed bond and use it to pay the shortfall?
I can't help unfortunately but am bumping this as there are lots of people on here I am sure can help you
good luck
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xSEALED POT CHALLENGE 6 - MEMBER NUMBER 086 Special Star from Sue :staradmin :T:T0 -
Should I use an available £10,000 to pay off a chunk or hang in? Or should I put the money in a fixed bond and use it to pay the shortfall?
Is the fixed term deposit rate higher than the mortgage rate?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Post some info about the policy
Provider
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
Maturity date
Maturity forecasts
Interest rate payable on mortgageTrying to keep it simple...
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