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Benefits vs surrendering Edowment policy
ruth-ven
Posts: 1 Newbie
I am 59 yo and am currently on JSA
Although I'm actively looking for work the £60 per week does not pay the bills.
My mortgage is paid but I still have an endowment policy which is worth £20,000 at this moment.
I realise that if I surrender that policy I will not be eligible for either JSA or Council tax benefit, or even free prescriptions.
I think I've worked enough years to be eligible for a state pension.
My question is - If I surrender my policy and reduce the burden on the taxpayer, do I still have to sign on.
Most vacancies appear to be on websites these days.
Any help would be appreciated.
Although I'm actively looking for work the £60 per week does not pay the bills.
My mortgage is paid but I still have an endowment policy which is worth £20,000 at this moment.
I realise that if I surrender that policy I will not be eligible for either JSA or Council tax benefit, or even free prescriptions.
I think I've worked enough years to be eligible for a state pension.
My question is - If I surrender my policy and reduce the burden on the taxpayer, do I still have to sign on.
Most vacancies appear to be on websites these days.
Any help would be appreciated.
0
Comments
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How much longer have you got on your policy? it could be worth waiting. I have one with 11yrs left and if i cash it now i only get about 1/3 of its value at 25yrsBe Alert..........Britain needs lerts.0
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