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Endownment - Leaving Early question
Karti
Posts: 3 Newbie
Hi,
Have an endowment policy for £45K that will only at current rate give me £26K. It finishes in 8 years (from a 25 year term)
I can currently get it in for £14K and save the £70 per month (£6720 till it finishes)
If I pay off my only two credit cards with the £14K, the money I'm paying would go into savings at £400 per month giving me £38K. If I also paid in the £70 (£6720) from the current endowment that would give me a grand total of £45,120 - Which was the required final total anyway
My question is if I should I do it and would it be worth it to sell the endowment policy through a 3rd party?
All ideas are helpful - cheers
K
Have an endowment policy for £45K that will only at current rate give me £26K. It finishes in 8 years (from a 25 year term)
I can currently get it in for £14K and save the £70 per month (£6720 till it finishes)
If I pay off my only two credit cards with the £14K, the money I'm paying would go into savings at £400 per month giving me £38K. If I also paid in the £70 (£6720) from the current endowment that would give me a grand total of £45,120 - Which was the required final total anyway
My question is if I should I do it and would it be worth it to sell the endowment policy through a 3rd party?
All ideas are helpful - cheers
K
0
Comments
-
Dont forget you are insured while your policy is running...............make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Good point.......
K 0
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