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Selling an Endowment.
matty_bb
Posts: 7 Forumite
Hi there , kinda new to this stuff but here goes , We have recently paid of our mortgage and now no longer need our policies , One is a Scottish legal life policy with profits.
The details are
Sum Assured £13.875
Total Bonus £ 3,568.12
Total Guarenteed Benefits ( Payable on maturity or death) £17, 443.12
Illustratave surrender value is £ 10, 695.05.
Ive tried a couple of web based companies about selling it on and was Quoted £ 11, 395 .
I would appreciate any comments on whether these figures add up to you all or should i just sit it out with the policy
With thanks
Matty_bb
The details are
Sum Assured £13.875
Total Bonus £ 3,568.12
Total Guarenteed Benefits ( Payable on maturity or death) £17, 443.12
Illustratave surrender value is £ 10, 695.05.
Ive tried a couple of web based companies about selling it on and was Quoted £ 11, 395 .
I would appreciate any comments on whether these figures add up to you all or should i just sit it out with the policy
With thanks
Matty_bb
0
Comments
-
It's current position is £17,443.
So, surrender is costing you £6748 and selling £6048.
to know if its worth continuing, we would need to know the maturity date and your monthly premium.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi there , The maturity date is May 2019. and the Monthly premiums are £55.890
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