# Who buys Endowment policys?



## popeye (22 Oct 2002)

I took out a with profits policy with Scottish Provident in 1987 in the form of an Endowment Policy. I now want to cash it in, having cleared the mortage a few years ago. Are there companies that buy these policys,or is it best to sell it back to Scttish Provident?


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## ClubMan (22 Oct 2002)

Have a look at .


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## Ned Kelly (24 Oct 2002)

Popeye.

that's a nice endowment you have there. What's the term? Would you consider keeping it? You would be in for some terminal bonus if you keep it until maturity

Ned Kelly


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## foney (3 Nov 2002)

*werll endowed*

I got an endowment mortgage from Standard Life in 1988. The terminal bouns is being reduced each year but I think that Standard Life guaranteed no need to increase premia to pay off the mortgage a few years ago. Whats the ska on this ?


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## help (3 Nov 2002)

*endowments*

I think it's conditional on them earning 6% a year on average which isn't happeing just now!


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## gwangwangwan (6 Nov 2002)

*endowment quandary*

We have a standard life endowment policy that (at least last year) was on track to pay the mortgage. It was originally a UK one (started 1986) but was reassigned when we moved to Ireland in 1997. Premium is 89euro/month, sum assured is 20,900. Last year's surrender value was 38K, now dropped to 34K. This policy is to cover a mortgage of 67K. We have a top up mortgage of 15K with the same lender. Questions:
1. Is this policy a good one (or the best of a bad lot?)
2. Shall we hold on or surrender/sell the policy, pay off half the mortgage and remortgage as a repayment?

My wife and I each have a 50€/month SSIA's - is it worth "sacrificing" potential terminal bonus to maximise SSIA in case Charlie puts a cap on them?

I have been checking the Motley Fool endowment section and the increasing feeling there seems to be to get rid of these policies asap.

Yours in a quandary


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