endowment advice please help

prioryscout

I'm a new member looking for some advice regarding my endowment policy.I took out in July 1994 I have received a statement and i'm just wondering whether to keep it or stop contributing towards it.I just keep receiveing Guardian financial services letter stating their ever increasing charges.I'm posting all details I have and would highly appreciate if you all can help me decide please. its with profits 100% managed fund,maturity date 20th July 2019
life assurance protection £43,000 Critical illness/diability £43000
monthly premium £63.34 current cash value 19th july 2006 £8,030.95
managed fund £3439.38. projected future value at 4% £21,200 at 8% £32000
Please let me know if its doing well.or shall I just surrender .it is no longer used to repay the mortgage I just kept it as I'm self employed now and have no pension savings.current debt credit cards £7000.

EdInvestor

Hi priory scout

with profits 100% managed fund,
maturity date 20th July 2019
life assurance protection £43,000 Critical illness/diability £43000
monthly premium £63.34
current cash value £8,030.95
managed fund £3439.38.
projected future value at 4% £21,200 at 8% £32000

Do you mean that it is 50/50 with profits and managed fund, with the managed fund bit worth 3,439 and the with profits fund bit worth 4,591?

Also, you have quite a lot of insurance protection in there, do you still need the two types of cover? If so, suggest you should investigate the cost of replacement first.

prioryscout

Thanks .I have got new life assurance protection cover with L&G worth £129000 decreasing term assurance and an additional cover that is running for about twelve years its called mortgage protection policy too from nationwide BS to protect payments if you become unemployed ill etc.it will be paid for twelve months £500 towards mortgage.I have got a £129000 repayment mortgage I don't know if I need this guardian endowment any more(We were out of time for complaining about miselling).
That was all the information I could get from the statement I really don't understand if its with profits,unitised or what I simply wouldn't know the difference no one has ever explained.It just says its 100% managed fund on the other page it says £3439 managed fund.I'll appreciate your help on this as I,m cost cutting and sorting out my finances at the moment thanks