Endowment worth keeping or cash it in

penwise

The policy is up in June 2015. Is it worth keeping until the end or could the money be better served else where?

Any thoughts / opinions on this would be appreciated.

I have a Friends unit linked life endowment that is due to mature on the 14th June 2015.

I pay 57 each month.
The target amount had been 40,000
The cash in value on 30 June 2014 was 28283
The cash in value on 30th June 2013 was 24,680
The cash in value on 1 July 2012 had been 18,919

There is life cover until the maturity date of 40,0000
(I have no dependants so the life insurance is nice but not vital)

The example figures given are :
low rate - @29(1.5%)
mid rate - @29,700(4.5%)
high rate - @30,300(7.5%)
The fund is:
FL EUROPEAN (£15,519.13) (50%)
FL MANAGED (£12,764.08) (50%)


Thanks

Laycity

Is there a terminal bonus? Keep it going if there is....
This is usually a percentage of your sum assured figure so you could ask them what they paid out on an equivalent policy this year?

You will lose this if you cash it in before the end date

penwise

Hi thanks for the warning.
I have looked at the documentation and unfortunately there is no mention of a final bonus.

Imma_Number

AFAIK Unit linked endowments don't have terminal bonuses. Bonuses are only on With Profit endowments.

dimbo61

You have at most 10x £57 to pay and it went up over £3000 last year !
I would carry on paying until the policy has finished.
Do you have any debts ? Pension plans !
£15,000 can now go into ISA,s each year

Thrugelmir

dimbo61 wrote: »

You have at most 10x £57 to pay and it went up over £3000 last year !

Markets could equally fall.........