Cashing in Life insurance Advise Please

tuppie

Evening i would like to know what would u do or what advise you have?

For 13 years i have had life insurance with profitts paying £15 and if and when i Pass over my estate gets £106k

The policy is Investment and Life Plan (i have no idea what it all means? )

But i can cash it in and if i did i would get about £1k returned to me

I can get life insurance again with a bank or whom ever...The extra ££ would help right now hence i thought i would cash it in?

My question is would it be a wise move?


Thank you in advance if anyone can offer advise or help as i want to do whats best and if that means stick with it then i shall?

dunstonh

My question is would it be a wise move?

Depends if a modern alternative is possible on better or equal terms or satisfactory terms.

I can get life insurance again with a bank or whom ever.

Never ever ever buy your insurances from a bank. Expensive and you dont get the full product range (even from those tied or multi-tied to known insurance companies)