Endowment maturing

elantan

Hi all, silly q I Spose but I was sitting working out roughly how much we will get and a few things occurred to me which I don't know the answers to so wondered if anyone here might know the answer

1) the mortgage promise thing that is attached to some endowments ( my own included) is this still attached if the mortgage no longer is connected to the endowment ? We change our mortgage to repayment a good while ago ( when we found out it the endowment wasn't going to cover the mortgage) and kept the endowment as a savings plan, was wondering if we would still be entitled to the mortgage promise.

2) will we have to pay tax on the money we get out from the endowment ? If so will it be on the whole amount ? Or from the amount paid out minus the amount paid in for example ?

Thanks in advance

opinions4u

1. The promise should still exist.

2. No further tax liability unless you've messed about with the policy in specified way.

elantan

Thanks for the info, haven't messed about with the policy as far as I know, although I did get a miss sold claim years ago but other than that we have just been paying it every month