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Canada sun life endowment policy - best way to see/surrender?
Geordieminx
Posts: 3 Newbie
I have an endowment policy that I took out about 10 years ago (15 left), with my first house. It's no longer linked to my mortgage, and at present I am paying £63 per month. At the end of the term it's opposed to give me £37500.
To be honest after sitting looking at the figures, I think I would like to try and get rid of it, and use the money (hopefully about £7k??) touch better use?
I have absolutely no idea how to go about this, so any advice would be greatly appreciated.
Many thanks
To be honest after sitting looking at the figures, I think I would like to try and get rid of it, and use the money (hopefully about £7k??) touch better use?
I have absolutely no idea how to go about this, so any advice would be greatly appreciated.
Many thanks
0
Comments
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Is it unit linked, unitised with profits or with profits?I 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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It's with profits and the actual figures as of feb 2010 are taken out feb 99, total surrender value £6368.27, and obviously have another 14 years left until maturity. (it also obviously has a life insurance value of £37500)
Thanks0 -
Your options then are to either surrender or try to sell it.I 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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Yes, that's what I thought, but I haven't got a clue about how to go about selling it, or even whether anyone would want to buy it?0
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