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Countrywide Assured policy - value for money?

floehopper Posts: 6 Forumite

26 August 2013 at 5:52PM in Insurance & life assurance

My Dad has had a Countrywide Assured policy for many years which he's concerned isn't offering good value for money:

Sum assured: £4,558 for both Mum (aged 69) & Dad (aged 79).
Monthly premium: £39.52
Fund value: £829
CWA Global Man S3 Capital: £624
CWA Global Man S3 Accumulation: £205
Surrender value: £549
Increasing term

I'm not familiar with this kind of policy. It seems to be both an investment and life insurance policy. It doesn't strike me as being very good value, but the surrender value also seems very low.

If he doesn't want the investment, but wants to keep the life insurance element, should he cut his losses and cancel this policy and take out a basic life insurance policy? Or is such a basic policy likely to have very high premiums on account of their age?

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Countrywide Assured policy - value for money?

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