Endowment policy surender?

[geordiemacminx]

I have an endowment policy taken out in 1999, pay £63 a month, suppossed to be worth £37k in 2024. Have received a letter saying that its unlikely that it will reach this amount (no shit), not such a problem as its not linked to mortgage anymore as we on repayment, and unfortunatley a lot more than £37k.

What I was wanting to know - if anyone has managed to stay awake this long is that if I sell it in 2009, after 10 years how much am I likely to get? It was valued at £5k at the begining of this year, but I have read that they are worth a lot more after 10 years?

Many thanks if you have managed to get to the end of this without nodding off

don't know geordie but I believe it is generally a bad idea to cash it in in the early years, so you should def plan on keeping it for the ten and maybe then get another valuation.

Don't cash it in there are loads of companies who would be willing to buy it from you for more. Just look in money pages at the weekend in the Guardian or one of the broadsheets. We were inundated with offers when we touted ours around recently. I could look up some names if you are interested.

probably too early to sell second hand as generally buyers like them to be close to maturity. Which company is the endowment with?
You can stop paying into it and the maturity may be pro ratered but you will have to call the company concerned to seee what they say.
Is the endowment unit linked or with profits? That can have a difference on the figures you are looking at since with profits do have a lump sum attatched at the end. (terminal bonus)
Alternatively check how much you have paid in and see what the surrender value is, there is no point chucking good money after bad.