What to do with this endowment?

Higgsy

I have been mulling this over for a while so if you have the benefit of having been in this position and can offer some help it woul be appreciated.

I have had an endowment policy for 8/9 years and 2 years ago switched the morgage to repayment as i began getting letters saying the policy may fall short and did not want to rely on it to may the morgage.

It is a UK Equity Fund with Sun Life and the latest statement shows:

A) 147.74 units bid price 3082.8 C) Total Value £4,554.53

I am thinking of cashing it in or surrendering but it still has 16 years to run.

1) Should i surrender?
2) Sell, but who too?
3) How much should i be looking for it?

There is a useful post i have seen here with a link to a group of buyers!


I have had letters saying i could claim but to find and produce evidence of this is very difficult as i think it is for most people so i can't really see this working as an option

Regards

Higgsy

Ian_W

You can't sell as it's directly invested in a fund or funds, so it's worth no more to anyone else than it is to you. If you could sell but you wouldn't get any more than the surrender value.

Whether to surrender is a bit more complex but I'm sure others will advise if you give some more details like the sum assured, target amount, monthly premium and the projections showing the potential shortfall.