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i have paid joint insurance policy after relationship split 10 yrs ago can i cash it in
reidyaf
Posts: 8 Forumite
My ex partner and i split up 9 years ago amicably and i have continued to pay a joint insurance policy (endowment) since we split. We have a son together and i thought should anything happen to either of us it would help the other given that my partner hasn't worked for last 10 years. The policy is coming to an end in 2024, however due to current financial situation i can't afford to pay it anymore and i have been given a surrender value on latest statement. If i want to stop paying it due to current financial situation , will i have to give him 50pc of cash in value?
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Who is the named beneficiary of this endowment policy, please? I don't seem to be able to read it from here.0
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Probably. Who owns the policy?No reliance should be placed on the above! Absolutely none, do you hear?0
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theartfullodger said:Who is the named beneficiary of this endowment policy, please? I don't seem to be able to read it from here.Come on artful - you're better than that!Close your eyes... tight.... squeeze them shut...Now. What does the OP's policy say?0
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My late husband and I had an endowment and hit hard times in the 90's - but the early surrender value for us, at that time, was appalling. I had to sell my grandmother's emerald ring, valued for house insurance at £2k - got £400 from the jeweller, but it was needs must at the time
Could you scrape the money together and continue paying it until 2024? £216 saved 24 October 20141 -
i can probably continue to pay it however i have other insurances now that would payout so my son would be ok should anything happen to me and i could the surrender value of this to pay off debt. Its a decreasing life insurance policy against mortgage so will pay out on maturity but i am thinking my ex will get help and its me who has paid most of it?0
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