Scottish Widows Unit Linked Endowment Policy

yotlane

Hi

Some general information please. I have a Scottish Widows Unit Linked Endowment policy that I am paying £30.00 per mont into. Current value is £10,600 and is expected to mature in 5 years time.

I cannot work out what the current interest is that we are getting on this policy. It is not linked to a mortgage or anything, it is just a savings plan.

I dont really need the life insurance of £23,000.

Would I be better cashing it in (I understand Unit linked products don't benefit from a terminal bonus) and where best to put it to maximise investment.

Thanks for any ideas.

vax2002

Gold......

yotlane

Thanks for this Vax2002, but wouldn't know where to start purchasing Gold, except from a local romanian gypsy!

vax2002

research, its quite easy and you always have your investment capital.

DVardysShadow

vax2002 wrote: »

Gold......

Presumably, you need to keep the price high.

opinions4u

yotlane wrote: »

Some general information please. I have a Scottish Widows Unit Linked Endowment policy that I am paying £30.00 per mont into. Current value is £10,600 and is expected to mature in 5 years time.

I cannot work out what the current interest is that we are getting on this policy. It is not linked to a mortgage or anything, it is just a savings plan.

It doesn't pay interest. It's an investment where the value of the fund will vary day to day.

I dont really need the life insurance of £23,000.

Why not?

Would I be better cashing it in (I understand Unit linked products don't benefit from a terminal bonus) and where best to put it to maximise investment.

Is there a penalty for surrendering? How long have you had it? What did you take the policy out for? Do you have any debts? Why do you think a different type of investment would be any better?

magpiecottage

Gold is not without risk.

People tend to rush into it when they are worried about the economy. Consequently it goes up in price.

When the economy is doing well they do not want it and the price falls as they sell it off.

yotlane

opinions4u wrote: »

It doesn't pay interest. It's an investment where the value of the fund will vary day to day.

Why not?

Is there a penalty for surrendering? How long have you had it? What did you take the policy out for? Do you have any debts? Why do you think a different type of investment would be any better?

thanks for responding. OH took this policy out 20years ago with plans to link to a mortgage in the future. Never did link it.

We have more than enough life insurances.

There are no penalties as far as we are aware, for surrendering it.

The return seems low, but all investments (IE ISA's etc) seem low at the moment. We were thinking it may get more in an ISA or it maybe best to leave it where it is. Just so long as we are not investing a great deal in euros at the moment.