Cashing in with profits endowment

abankerbutnotafatcat

I'm sure others have asked similar but i'm after any thoughts regarding my endowment.

It is a with profits in year 14 of a 25 year term. The current net surrender value is pretty much what i've put in. I no longer rely on it for repaying my mortgage.

I have need of the cash for projects in the new house and not paying the monthly payment would be good too.

Has anyone any thoughts - any things I need to consider prior to cashing my endowment in?

holly_hobby

You may achieve more than the SV, if it is purchased by a traded endowment co.

There are various elements that will influence any offer made - so best to have a quotation from various sources before deciding whether to surrender or sell.

Hope this helps

Holly

Dick_here

abankerbutnotafatcat wrote: »

Has anyone any thoughts - any things I need to consider prior to cashing my endowment in?

The cost of replacing the life cover springs to mind.

McKneff

Yes, dont forget you have life cover with your endowment and you will miss out on the terminal bonus

holly_hobby

Unfortunately a TB on maturity is discrectionary and not gte'd .

With life cover only applicable whilst premiums are maintained (or until made paid up)

Holly

abankerbutnotafatcat

Thanks, guys. I have no dependents so am not interested in life cover.