unit linked endowment

chunk67

hello
i have a unit linked endowment which i want to surrender as i have paid off my mortgage. it matures in 2019 and has been running since 1994.
it is currently worth £9260. I believe i have paid in around £7000. if i surrender it are there any charges associated with it? and is the actual surrender price just a matter of luck at the time you surrender it. also "opinion based" is this the best thing to do

thank you
colin

Annisele

Generally the surrender value is just the fund value as at the point of surrender - but if you're unsure about your policy, ring the product provider and ask.

The surrender value will fluctuate, so to some extent it is a matter of luck as to how much the value moves between you sending your instructions and the surrender being processed.

As to whether it's the best thing to do...I have no idea; I don't know anything about either you or your endowment. I'm not suggesting you necessarily answer these questions on a public forum, but some of the things you might want to think about are whether you need the life cover the endowment provides, whether you can replace that cover elsewhere if you do (i.e. are you in worse health than you were before), what funds is the endowment invested in, can you afford to pay the premiums, what would you do with the money if you did receive it now, etc etc.