Phoenix/Sun Alliance - should I cash it in?

toleg

I have been paying £20 a month into a (then) Sun Alliance and (now) Phoenix endowment policy that I don't really understand! My Dad started it for me in 1984 and I took it over when I began earning. It does not mature until 2029, which is a lot of £20 payments! There is no mortgage running alongside it and it seems a very thin return. So, should I stay with it - and if so, why - or cut my losses and cash it in? Its current value is about £12,800 though I'm told there may be charges to pull out. Any and all advice v gratefully received...