Endowment cash in?
18 August 2008, 08:54 AM
#1
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Endowment cash in?
My wife has an endowment plan for £23k she took out in 1996. It costs £40 per month and is now worth £5250 
.
She just recently received an update which showed if it grows at 6% it'll be worth 14k. Considering the plan is halfway through(almost) and considering the impact of inflation it seems very unlikely whether it is worthwhile keeping.
Interestingly some of the online valuers will not quote, or state surrender value will be higher than offer for this company's plans.
The only downside is the value of the Life part, however £24k isn't a massive amount of money, I need to sort mine out because going self employed, so may as well go with a Joint plan, on first life.
Comments?
. She just recently received an update which showed if it grows at 6% it'll be worth 14k. Considering the plan is halfway through(almost) and considering the impact of inflation it seems very unlikely whether it is worthwhile keeping.
Interestingly some of the online valuers will not quote, or state surrender value will be higher than offer for this company's plans.
The only downside is the value of the Life part, however £24k isn't a massive amount of money, I need to sort mine out because going self employed, so may as well go with a Joint plan, on first life.
Comments?
currently your losing money.
18 August 2008, 10:35 AM
#3
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You used to be able to auction these and usually got quite a bit more than the quoted figure. I don't know whether this is still the case though but maybe someone will know.
Also check if you lose out on any terminal bonuses if you cash in now. dl
Also check if you lose out on any terminal bonuses if you cash in now. dl
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