I have a 25 year low cost endowment with Zurich due to mature in March 2018. I've had information from them about the options and likely returns if I surrender the policy now or keep it until maturity or make it paid up now.
I don't want to surrender the policy but the difference between making it paid up now and keeping up payments until the surrender date seems to shows that I would be better off making it paid up now.
An Illustration shows paid up value as £16,600 and value if I keep paying in as £18,900 - difference of £2,300. My monthly payments are £47 so over the time left to maturity I'd be paying in £,2900! I don't need the life cover attached to the endowment and I have paid off the mortgage.
I'd like to know if there is any downside to making the policy paid up now otherwise it seems the best option to me? Many thanks.
I don't want to surrender the policy but the difference between making it paid up now and keeping up payments until the surrender date seems to shows that I would be better off making it paid up now.
An Illustration shows paid up value as £16,600 and value if I keep paying in as £18,900 - difference of £2,300. My monthly payments are £47 so over the time left to maturity I'd be paying in £,2900! I don't need the life cover attached to the endowment and I have paid off the mortgage.
I'd like to know if there is any downside to making the policy paid up now otherwise it seems the best option to me? Many thanks.