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Cash in Endowment early & put in savings acc?
Bluebell4444
Posts: 3 Newbie
I have 3 years left on my chronically underachieving endowment! Maturity amount currently 50% of sum assured. Failed to lodge complaint in time (literally two days past deadline and Friends Provident would not consider it) Last year earned £17.51 to add to guaranteed amount. Don't know where to begin asking Financial Adviser so can anyone help me with this query - would be so grateful!! Policy matures Dec 2013 with guaranteed amount currently £19,490.00. This presumably will only earn roughly £20 per year until maturity. Surrender value currently £17,896.00. Surely I am better surrendering and putting in savings account earning interest say fixed rate of 4% over 2 years 8 months = £60 per month x 32 months = £1908. £1908 plus £17,896 = £19,804.00 which looks like it would be marginally more than leaving in the Endowment. Small amounts I know but its the principle!! Any advice much appreciated!....
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