Convertible Term Assurance Plan - Advice Req

manchestermac2009

Hi All,


I recently found that I had been paying £10 a month to prudential for a number of years.

This turned out to be a life insurance policy for an old mortgage I had when I was younger.

This mortgage is now closed and I have continued to pay the life insurance, the insurance value is £45,000.

From speaking to Prudential they tell me it is a Convertible Term Assurance plan that I can convert into an endowment policy.

It finishes in a few years and I am not sure what to do.

1. Is it better to convert now or later ( I don't need to life insurance as I have plenty elsewhere)
2. What will be the estimated payout?

Any help or advice appreciated.

Thanks