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Endowment Policy ends May - Due to Article 50 should I cash now or wait?

(6 Posts)
yohoohoo Mon 20-Mar-17 12:49:55

With the the PM announcing Article 50 do you think everything will hit rock bottom?

Ive got an endowment that is due to end May but I can cash anytime...wondering whether I should cash in now...not much about £10k (should of made £17k) as endowment from 23 years ago

Piffpaffpoff Mon 20-Mar-17 12:59:04

You may lose terminal bonus if you chip it in now - this is a final bonus that is paid at maturity and not before.

yohoohoo Mon 20-Mar-17 13:17:56

ah ok I may ring them and ask how much I would loose

purits Mon 20-Mar-17 13:27:21

The FTSE looks forward. It will have already factored in Article 50. The FTSE100 was 6261 on June 22, it's now 7415. What are you worried about, do you think that it has peaked.

The old saying was "sell in May and go away". Does that still hold these days?

kath6144 Mon 20-Mar-17 14:29:33

No, definitely dont cash in now, any drop in the market should have negligible effect on an endowment just 2 months from maturity.

As pp said, the final value includes a terminal bonus, and that will come from a pot built up by the insurance co over many years. You could lose a good % by cashing in now.

I have one maturing in July, It has never even entered my head to cash in at this point in time.

yohoohoo Tue 02-May-17 15:33:13

ok so Ive had a letter which states currently worth about £13k and will be paid into the account when it matures.

yikes Im hoping I do get this amount and not less - already lost so much as it was an endowment which hasnt met what it was supposed to (£19k)

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