Eagle Star Low Cost Mortgage - Hold or quit?

dickietruncheon

Eagle Star are one of the worst performing Endowment providers. My figures are very much like yours however I have decided to pursue Eagle Star (now Zurich) through every court in the land. I have now discovered that Eagle Star are using this endowment fund to top up any members of staff that have similar shortfalls in the estimated maturity (ie. In your case if you were a member of staff you will gt a minimum pay out of £65,000). This is criminal but not surprising given the incompetence of Eagle Star fund managers over the past 20 years

Fight on!!

Compensationitis

Have you complained about this lousy endowment?

EdInvestor

Hello Kerry

Kerry_o'keefe wrote:

Any help and advice much appreciated. Any previous advice has always been not to cash in but even by my calculations and the continued underperformance of the above policies I am sure I would be better off cashing in.

Is it worth selling these policies to 'endowment buying companies' ?

I could take any monies I receive from encashment and take that off my mortgage with premiums added to monthly mortgage payments ?

I agree with you.The ES policy will only make 11,164 if you invest the surender value @4% and pay in the premiums. The AD one will make 10,734 if you do the same.

You would make a better "return" if you cashed them in and reduced the capital owed if you are repaying at a rate higher than 4% - and paying the endowment premiums into the mortgage is also a good idea.

Nobody will want to buy these unitised endowments ( I am assuming they are unitised WP, are you sure you have no guaranteed sum assured and guaranteed bonuses?)

I would tend to agree that you should complain. Start the complaint off before surrendering the endowment.

See the Which site https://www.endowmentaction.co.uk for guidance on how to complain.

Do you need the life assurance? If so, also replace it before surrendering as the cost may have increased, especially if you have any health issues.