Endowment - to cash or not to cash ????

Bresslaw

So, Mortgage paid off - endowment still being paid, valuations as below ;

Current Surrender Value at 21 Jul 2012
Basic value11,515.45
Final Bonus1,022.45
Total plan value12,537.90


It matures Apr 2014 and final valuations are as ;

3.75% - 13,700.00
5.5% - 14,100.00

Total to pay in til maturity - 601.80

I dont need the money in hand but want to get the best from it, do I cash it in and save in a high interest (suggestions please) or leave it.

Thanks
Mike

McKneff

Dont forget that you have life insurance cover with it and there
could also be a terminal bonus....

Bresslaw

I have life cover elsewhere and can find no mention of terminal bonus anywhere - this is so confusing

annie1975_2

We have just had 2 endownments matured. And we got a couple of grand terminal bonus on ours.
We left ours because of the terminal bonus,(I know you dont know what this is til you cash it in). But I would have always been wondering what we might have lost out on.
It should tell you on your statements what your % of terminal bonus is.

McKneff

Terminal bonuses vary, there is no set amount, it depends on the investments etc. The only thing you can get some sort of idea of how much it could be is to look at previous years bonuses paid out..

annie1975_2

Yes you can get a lot, or just a little,or non at all.
Pot luck really. I think this day and age if you get some kind of profit from it its not too bad, as some have had big shortfalls in the past?