Who buys Endowment policys?

P

popeye

Guest
I took out a with profits policy with Scottish Provident in 1987 in the form of an Endowment Policy. I now want to cash it in, having cleared the mortage a few years ago. Are there companies that buy these policys,or is it best to sell it back to Scttish Provident?
 
Popeye.

that's a nice endowment you have there. What's the term? Would you consider keeping it? You would be in for some terminal bonus if you keep it until maturity

Ned Kelly
 
werll endowed

I got an endowment mortgage from Standard Life in 1988. The terminal bouns is being reduced each year but I think that Standard Life guaranteed no need to increase premia to pay off the mortgage a few years ago. Whats the ska on this ?
 
endowments

I think it's conditional on them earning 6% a year on average which isn't happeing just now!
 
endowment quandary

We have a standard life endowment policy that (at least last year) was on track to pay the mortgage. It was originally a UK one (started 1986) but was reassigned when we moved to Ireland in 1997. Premium is 89euro/month, sum assured is 20,900. Last year's surrender value was 38K, now dropped to 34K. This policy is to cover a mortgage of 67K. We have a top up mortgage of 15K with the same lender. Questions:
1. Is this policy a good one (or the best of a bad lot?)
2. Shall we hold on or surrender/sell the policy, pay off half the mortgage and remortgage as a repayment?

My wife and I each have a 50€/month SSIA's - is it worth "sacrificing" potential terminal bonus to maximise SSIA in case Charlie puts a cap on them?

I have been checking the Motley Fool endowment section and the increasing feeling there seems to be to get rid of these policies asap.

Yours in a quandary
 
You must log in or register to reply here.
Back
Top