Axe sun life bonus cash builder plus plan- advice pease

Smiley37

Hi
I opened a axa sun life bonus cash builder plus plan for a 15 yr period in sept 2009. To date I have paid in a total of £730 by direct debit.
After reading a few dubious articles I decided to call them.
I have been told that if I surrender the policy now then I would receive just £549.03!
Almost £200 less than what I've paid in!
She went on to give me projected maturity quotes at 4 and 8 percent if I continue with the plan.
I am unsure of whether to continue or stomach the loss now and reinvest in an investment ISA and continue paying in the mthly dd I was paying to the cash builder plan.
Anyone else had any issues with these plans?
Advice pls!

opinions4u

If you had posted on here before taking the plan out, you would have been nudged in the direction of some sort of investment ISA. Lower charges, better tax benefits etc, more flexibility when you withdraw etc.

But you should go back to your original documentation and read what it said about early surrender. I doubt it was saying "after two years you should expect to make a chunky profit if you cash it in".

What should you do now? It's your call. Can you make the policy "paid up" and not contribute any more to it? That way your money remains invested for the term and you don't get hit by the early surrender charges that are probably built in to the £549.03 figure. That said, I'd probably surrender.

As for the monthly saving, consider pension and stocks and shares ISA. The HSBC 0.25% charge tracker might be worth googling (via HL I think).