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Endowment Policy Cash In
rak2
Posts: 90 Forumite
Hi, I currently have debt problems and am pretty sure I want to cash in my endowment policy.
I originally took it out to cover my mortgage but about ten years ago changed to a repayment mortgage but kept the endowment running.
It's due to mature in 2020 and they project it to mature at 24k. I got a surrender value last week and they have given me an approximate figure of 11K. I pay £65 a month in.
Is getting the surrender value from the provider the best way of selling?
I originally took it out to cover my mortgage but about ten years ago changed to a repayment mortgage but kept the endowment running.
It's due to mature in 2020 and they project it to mature at 24k. I got a surrender value last week and they have given me an approximate figure of 11K. I pay £65 a month in.
Is getting the surrender value from the provider the best way of selling?
0
Comments
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Is getting the surrender value from the provider the best way of selling?
you may be able to sell if it is a with profits plan. However, if it is unit linked you cant.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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