Endowment - cash it in, sell it or keep it?

[sniff diesel]

The initial message was deleted from this topic on 01 June 2011 at 20:36

[ringram]

Sounds like its lost money then!
Whats it invested in?

Bear in mind Mr Inflation may be paying a visit soon, so depending on what your endownment is invested in it may pay to keep it there rather than locking in your losses etc. Of course if there are better invesments out there check any penalties with a view to changing the investment. Or use it to pay off more expensive debt etc.
My 2p.

[Deva Link]

sniff diesel said:

ringram said:

Sounds like its lost money then!

Definitely has so far even if I don't take into account any lost interest I could have earned. I've paid in £7000 over 10 years and the fund is worth £2000 less than I paid in, although I did get a £500 cheque when Scottish life took over Royal london so reckon I've lost £1500.

Presumeably there's life assurance attached to it though? That wouldn't be very expensive on a stand-alone basis, but it has some value.

[LeoSayer]

Don't throw good money after bad.

If you knew someone who had a spare £60 a month to invest, would you recommend this fund?

[sidicks]

sniff diesel said:

Deva Link said:

Presumeably there's life assurance attached to it though? That wouldn't be very expensive on a stand-alone basis, but it has some value.

Suppose, but as a 28 year old with no dependants and life assurance through my work pension (4 times salary) it's not really that usefull.

Part of your premium is paying for this regardless of whether you need it or not.

sniff diesel said:

Just had an email back from a firm that buys endowments, they say they won't touch it as it's unit linked and the market is only for with profits policys now.

You're post above said that it was unitised with-profits, not unit-linked, which is it??

Sidicks

[Tiggsy]

TEP (traded endowment plans) will want traditional (full) with profits...not unitised with profits. Keep or cash in....as was mentioned above the "if i didn't have this now, would i start it now" theory of financial planning often works quite well with things like this!