Hello. My first post...I took out a £59 a month Home Purchaser policy over 25 years starting Jan 1989, so my next payment in Jan 2013 is the last one. It is not attached now to any mortgage. The period of assurance ends in January 2014, but I do not need the life assurance element as I am well covered via work. The last statement a year ago said that the total value was now approx £28,000. I would quite like to cash it in now. As it will be paid up, will I receive the terminal bonus if I cash in a year before the assurance element ends? What am I likely to lose (if anything) other than a year of life assurance that I do not need? I understand that terminal bonuses are running at approx 30-35% for these policies, so I would obviously not like to lose that! I have emailed them today asking for a surrender valuation.
Thanks for any help
Thanks for any help