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shall i sell or cash my endowment policy in...
rdsastroud
Posts: 1 Newbie
I took a with profits endowment out in 1988 for 21,000... I have been paying 26.92 every month..and have only got 2 / 3 years left on it. I recieved my bonus notice and my sum assured is 7077.00 bonus is 4223.92 so total benefit is 11290.92.. i phoned for a surrender value and they gave me the figure 10,515 .00. i just dont think im going to get much more really as i only got 76.76 bonus for last year,...so if any ones got any advice for me.. i would be greatful.
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Comments
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If you don't need the lump sum and don't miss the monthly payment, I'd hang on to see what terminal bonus you get at maturity.
You will miss out on it, if you cancel.0 -
Cost of surrender is £775.
That means any alternative would have to make 7.37% just to recover that loss. So, keeping it seems sensibleI 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
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