Endowment - L&G flexible mort plan - anyone recently matured?

Paulosomerset

Hi all

I have the above endowment - taken out in 1998 - 25yrs - expires 2023

Paid in 98 £/month (1176 per annum)

Current surrender - 28k

It is a useless unit linked thing - so no profits / bonuses etc.

So - interested if any of you savers out there have any experience of recent performance of one of these things?

Basically - I have paid 20k - it's worth 28k.

So I'm thinking - do I value 28k now, or 38k in seven years? (38k is a total guess - it is targeted to pay 64k!!!!!!!!)

Anyone with me so far?

I know there is no right and wrong - just interested in opinion!

Thanks all

Paulo

Thrugelmir

Paulosomerset wrote: »

It is a useless unit linked thing - so no profits / bonuses etc.

If the underlying investments perform then there'll be profits. Majority of investment return is actually derived from reinvestment of income generated.

Paulosomerset

Totally agree and get that - was just trying to be clear in the calculation - ie that there are no final bonus or annual payouts.

Thanks though

I just need to reconcile the fact it has gone from 0 to 28k in 18 years (supposedly on it's way to 64k). And am struggling to convince myself that there is benefit in holding on - when the money could be useful to me soon

AnotherJoe

If the money would be useful to you soon, cash it in.

TrickyDicky101

That's a marvelous investment return as your premiums have been gradually drip feed into the units rather than being wholly invested at day 1.

Paulosomerset

Tricky dicky - you mean take the 8k win now?