Ms

Flakeflynn

I took out a life insurance policy back in 1996 when we got a morgage on a new build house it is to mature 2023 at a sum of £30.000 unfortunatly i ended the policy a week ago & have been told there is no surrender value!!! However on paper work it says if policy is cancelled all money owed will be paid & if money is owed by me to them it is to be paid to the insurance company. Who were sterling life when policy was taken out but are now coeva

dunstonh

unfortunatly i ended the policy a week ago & have been told there is no surrender value!!!

That is the case for most life assurance plans. They are just like house insurance or car insurance.

Only endowments had an investment element but they were around 10 times the monthly cost of a term assurance.

If you had an investment element you would have got an annual statement telling you how the investments were valued.