Lincoln Financial savings made no money-should I cash in?

G

garyh3

Guest
Hi All,

1'st time posting here. Hope its the correct forum...

OK Was sold a couple of policies by Licoln financial back in 1992 and 1995. When they had a sales team.

1. 1992 policy - 75 pounds per month 25 years with Life @ 56,456.00
Policy is currenty with Schroders fund 658 and 659. Total about 16,000 pounds at present. It looks to me that this policy has done nothing. Should I cash in?

2 1995 Policy - 75 pounds month 25 years with life @ 51,892.00 Policy with currently with Schroders life 192 and Perpetual life 194 value 11,000. Also looks to me that it has made no money.


Should I cash both in and pay of some of the mortgage or should I invest ?

Im not happy with Lincoln Financial as I feel that all the hype at the time I was miss-sold and didnt understand the full extent of this policy. I was basically looking for a savings plan that I could use to buy a house in a few years. NOT 25 years.

Any advice about the policies !

Thanks in advance

Garyh3
 
I suspect you may be posting on the wrong board. Lincoln Financial are a US firm but your reference to pounds suggests that you are in the UK. As this is an Irish board, many of the regulars here would have little knowledge of UK products.

Try The Motley Fool http://www.fool.co.uk/

Liam D. Ferguson
www.ferga.com
 
Hi thnaks LDFerguson

Actually there UK accounts, but Im now live in Ireland and I was looking for general advice as to what to do with them. IF they make little or no money after 12-15 years then I would guess its time to pull out. yes/no

then should I pay some of my Irish mortgage off with the money better to do something with the money than having it do nothing !

regards
Gary
 
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