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Unit-Linked Endowment - to cash or not to cash, that is the question...
atb66
Posts: 1 Newbie
I have one of these products which has turned out to be, in my opinion (and indeed countless others), not fit for purpuse.
Basically, I'm just into the 16th year (of the 25 year policy) and the surrender value is currently only slightly more than what I've paid in.
I'm no longer relying on it to pay-off my mortgage, but had resigned it to being a 'savings' plan, but that's certainly become a misnomer in this instance!
Anyway, I can't sell it on the open market given its type (something else I just learned!) and the reality of it even reaching the target amount (quoted 4%), should I freeze the payments, is remote indeed.
If anyone can suggest some better investment option(s) for me in these times of austerity (once I've surrendered the policy), then I'd appreciate it.
Thanks in advance....
Basically, I'm just into the 16th year (of the 25 year policy) and the surrender value is currently only slightly more than what I've paid in.
I'm no longer relying on it to pay-off my mortgage, but had resigned it to being a 'savings' plan, but that's certainly become a misnomer in this instance!
Anyway, I can't sell it on the open market given its type (something else I just learned!) and the reality of it even reaching the target amount (quoted 4%), should I freeze the payments, is remote indeed.
If anyone can suggest some better investment option(s) for me in these times of austerity (once I've surrendered the policy), then I'd appreciate it.
Thanks in advance....
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