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Surrender Endowment Policy?
Historybuff
Posts: 657 Forumite
Our endowment policy matures in August 2016. However, I have just received the latest statement with accompanying communication which reads...'over the last few years the rate of return on the deposit fund has been less than the annual management charge, so the unit price has gone down. This has been caused by the drop in interest rates'.
We have stuck with this policy since 1991, but I'm wondering whether the time has come to cut and run.
If I understand correctly, if we continue to pay in from this point on we will only be getting the value of the additional units we buy between now and maturity, less the management charges.
I'd be grateful for any opinions on this. Thank you. HB
We have stuck with this policy since 1991, but I'm wondering whether the time has come to cut and run.
If I understand correctly, if we continue to pay in from this point on we will only be getting the value of the additional units we buy between now and maturity, less the management charges.
I'd be grateful for any opinions on this. Thank you. HB
Feb 2014 to now
Unsecured debt at highest £56,511/now £9,328 83% paid.
Mortgage £85,342/now £28,846 66% paid
2018 overpayment total - £5,500
Mortgage and debt free by August 2020
Unsecured debt at highest £56,511/now £9,328 83% paid.
Mortgage £85,342/now £28,846 66% paid
2018 overpayment total - £5,500
Mortgage and debt free by August 2020
0
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