Zurich adaptable life plan- sell or keep

parsonski

Hi,

I have a 25 year plan that is due to mature in 2016 and have been sent a green letter telling me that its on track. I was 18 when I took out the policy and have used it only as a savings plan and almost forgotten about it until now.
current premiums = £50
target amount = £11,250

they have advised that i should expect the conservative assumption of 4% growth and projected final amount of £23,000

Is this accurate as that seems acceptable or do I need to get out now. I was told that most of the money is made at maturity so have not asked for a surrender value yet.....

I would love to think i would at least get the money i paid in back..

any advice?:(

kkgree1

I have one of these plans and looked into surrending it at the end of last year. We changed to a repayment mortgage in November so it is now just a savings vehicle for us too.

As far as I understand it, you cannot sell these plans as they are unit-linked (well, mine is). You can surrender it but when I looked into this, the surrender value was quite small and only a little over what I had paid in over the years. I believe there is a maturity bonus which applies in the final 2 years so it may be worth waiting till that takes effect?!

I've got another 14 years left to run on mine!

parsonski

Thanks, I will ring Zurich and see if they can explain about the maturity bonus. I suspect they will be keen for me to keep it of course;) See how it goes from there. Its just I cant see nothing on the statement about bonuses!?