Keep or cash-in Endowment

nyck

I thought i'll try and workout if it was worth keeping my endowment going but then my head started to hurt.

Its a Prudential unit-linked fund to pay £50K in Aug-2023 and my premium is £134.70 p/mth
My latest statement June 2010 valued it at as of june 2009 £13,254
Its classified as Green with a Estimated grow rate of 6% to pay £64,800 .

My current mortage rate is 1.99% for the 50k £83 p/mth

It looks like i should keep it but the value is long way off the target amount

thanks nyck

opinions4u

While it's green - don't worry!

Gorgeous_George

Keep a record of its surrender value every month and if it is achieving a worthy return, stick with it. Otherwise, consider surrendering the policy.

There'd be little point in paying the mortgage down when the rate is as low as 1.99% and you could save the proceeds at a higher post tax rate or invest in something that has more potential.

GG