Hi, I have had an offer of £2,500 for mis-sold endowment which is great. However, they have also offered me the chance to surrender my policy and pay me £11,869.07. It's been running since 1999 and matures in 2024, paying in £74.44/mth. I've worked it out and it's slightly less than the premiums that I've paid in.
I'm not going to ask whether I should surrender it or not, just as to why it's less than what I've put in over the last 12-13 yrs.
I've made arrangements for my mortgage to be repaid now, so this will either serve to pay some off my mortgage by surrendering it OR as a savings plan and keep it going.
Thanks in advance.
I'm not going to ask whether I should surrender it or not, just as to why it's less than what I've put in over the last 12-13 yrs.
I've made arrangements for my mortgage to be repaid now, so this will either serve to pay some off my mortgage by surrendering it OR as a savings plan and keep it going.
Thanks in advance.