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Zurich unit linked endowment
cornishfairy
Posts: 13 Forumite
Hi, just a quick query if anyone can help. I have had a Zurich linked endowment for 9 years paying in £46.66 per month to pay off a £32,000 interst only N R mortgage. Having phoned them today I have been given a surrender value of £3946.25. Am changing mortgages to Halifax repayment so am planing to put this into an ISA. My question is will anyone else want to buy it, or because it is such a tiny amount, should I accept the surrender value from Zurich. Any help would be much appreciated. It has 16 years left to run and includes critical illness and life insurance cover.
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Comments
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My question is will anyone else want to buy it
No. Its unit linked so has a daily value.
It is worth noting that unit linked endowments of 25 years or more are generally expected to come in on target. Rather than pay a surrender penalty and lose life and CI benefits which are better than those available today (CI cover has been reduced compared to older plans) you may find this one is worth keeping.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Fantastic, thanks for the quick response. I think what I may do is keep it going. Although they did say that if I was to cash it in, I could keep the endowment open and my insurance etc. would still be in place, if I start again with paying in a new monthly amount. This way I could just keep it as a savings scheme, they also said I could have a years payment holiday. Thanks again0
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