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Endowment: keep or cash in?
Furzil19
Posts: 14 Forumite
Hi everyone,
We have an endowment policy with Friends Provident that matures early 2017. We have been offered a £10,000 bonus to cash it in now (would we still get this at the end?). Our initial thought was to just hold on until the end and keep our fingers crossed, after all it covers us for life insurance and the remaining amount of mortgage is very low (easily covered). However, our worry is in regard to the effect the EU referendum will have on interest rates which we understand could in turn alter the policy outcome.
So, our question please is: should we keep the policy going as we are so close or cash it in?
We have an endowment policy with Friends Provident that matures early 2017. We have been offered a £10,000 bonus to cash it in now (would we still get this at the end?). Our initial thought was to just hold on until the end and keep our fingers crossed, after all it covers us for life insurance and the remaining amount of mortgage is very low (easily covered). However, our worry is in regard to the effect the EU referendum will have on interest rates which we understand could in turn alter the policy outcome.
So, our question please is: should we keep the policy going as we are so close or cash it in?
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