to sell endowment or run through?

rioroar

I have a standard life endowment which is due to end Nov 2011, the cover was for £23,000 we have overpaid like everyone else and now owe £16,000 on the mortgage.SL are quoting min payout of £13,700 how do I estimate a final payout figure? Or is it worth selling the endowment now,to help pay off the mortgage I would then put cash to this to fully pay off the mortgage.As it is only appox 5 years left is it worth selling or stick with it? could any one offer any advice as I'm afraid I don't know agreat deal about money issues. I do realise £16,000 is very small compared to others but to me it is an issued needling me! Thanks for any help this is the first time i have posted a thread and am rather nervous about it all!

maninthestreet

What is your monthly payment, the surrender value of the policy and the
projected final values that SL are required to send you, either anually or every 2 years ?

rioroar

Hello my monthy payment is £30, cash in value is £12,290 this has gone up by £170 since last year and projected values are 3.75% £14,600 5.50% £16,009 7.25% £17,500 thanks for replying.

tin_cup_2

SL certainly appears to be performing now, my endowment has increased by 4% since Xmas.

tin cup