Endowment Policy...help

Hedgehog888

Hello
Not sure if this is a silly question about endowment policy but here goes. We took out our mortgage 25 years ago may coming as endowment. a few years later my hubby had health problems and was unable to work. we struggled with the mortgage, but could not afford the endowment. so it was not paid into. the mortgage was transfered to interest only. im not sure what would have happened to this endowment policy, i know there would be very little in it, so not even sure if it would be worth it and I would need to fine something with who it was with on. How would I go about this as the company may not still be around as the Abbey national arranged it all. Do you think its even worth trying to find it?

Thanks for any info

dunstonh

the mortgage was transfered to interest only.

it was always interest only. The endowment was an extra product. Not built into the mortgage.

im not sure what would have happened to this endowment policy, i know there would be very little in it, so not even sure if it would be worth it and I would need to fine something with who it was with on.

Endowments didnt obtain values in the early years. It was typically around year 4 or 5 that they started to get values. So, if it was stopped in the early years, there was probably no value. If there was a value at the time, there would have been two options. Surrender with the value paid out or keep paying the life assurance from the value until the money runs out.

Do you think its even worth trying to find it?

Whenever an endowment has a value, an annual statement would be sent out. So, if you know you cancelled it in the period where it was likely to have no value and you havent been getting statements, then there is not likely to be any value.

Hedgehog888

Thank you for the reply, it was very helpful