Hi.
Took out a with profits life assurance policy in 1982 with Royal Liver. This was for ten thousand punts substantially adjusted to €12698. Over the following years with bonuses added the sum guaranteed increased to €27805. About ten years ago they stopped adding an annual bonus and the sum assured has remained at €27805. The policy is due to mature in 2023 with that sum guaranteed and the possible addition of what they call a “ terminal bonus “ . This bonus is not guaranteed and a bit of research online suggests that it is unlikely to happen.
I have checked out the value of the policy if cashed today and have been offered €33000 .
Thankfully I have no immediate need for this money but my question is should I cash in now or wait for the possibility of a bonus in 2023.
Thanks in advance for your advice.
Took out a with profits life assurance policy in 1982 with Royal Liver. This was for ten thousand punts substantially adjusted to €12698. Over the following years with bonuses added the sum guaranteed increased to €27805. About ten years ago they stopped adding an annual bonus and the sum assured has remained at €27805. The policy is due to mature in 2023 with that sum guaranteed and the possible addition of what they call a “ terminal bonus “ . This bonus is not guaranteed and a bit of research online suggests that it is unlikely to happen.
I have checked out the value of the policy if cashed today and have been offered €33000 .
Thankfully I have no immediate need for this money but my question is should I cash in now or wait for the possibility of a bonus in 2023.
Thanks in advance for your advice.