Sharesave v Endowment

Gary0371

Evening all,

Looking for some advice if possible please?

I currently have 8 years to run on my ScotAm (now Pru) endowment policy with a current surrender value of £30k. I currently pay £120 per month into this and it also gives me life and critical illness cover. This is purely savings as I converted my mortgage to capital and interest many years ago. It is a unit linked policy and not with profits.

I have also recently signed up to my employers Sharesave scheme at £500 per mth over a 3 year period with an offer price at 60p per share (shares currently at 80p).

I planned to cash in clusters of my endowment to cover these payments into my Sharesave but am now having second thoughts. If I leave the company before the Sharesave has matured I will get all of my investment back risk free but have the potential to make a decent profit if shares rise.

My endowment has 10 clusters in total so I could cash in 2 clusters per year over the next 3 years to covert Sharesave, leaving me only 4 clusters overall, but my worry is that I am not with the company in 3 years time and may needlessly be mucking about with my endowment. If shares stay as they are at present I should make a 25% profit so is it worth me taking the risk here or do I stick with what I have. I can't see my endowment growing by 25% over this period but would welcome any advice please?