Endowment cash in query (best guess required!)

I realise that this may be a stupid question and one that should really be answered by the company which issued the endowment but :-

1) I only require a rough idea (is it likely to be more or less than the amount paid in) 2) Due to a "technical problem" - They (Norwich Union) can't give me any idea of the value for at least a week.

Anyway, here goes :-

I've got an endowment which started just over 11 years ago - The sum it is to cover is 26,500, the monthly payment is approx 32 In total so far I've paid about 4300 into the endowment - It is a 25 year policy so has about 14 years left. Please note I haven't been informed by NU that it is likely to miss it's target so I'm assuming it is still on track to mature at the required value.

I'm looking at cashing it in to get at the cash but the Norwich Union can't give me an idea of the amount I'll get for another week so can anyone give me a best guess as to how much I'm likely to get if I surrender it now?

I don't expect an accurate answer, but would the cash in amount typically be equal to the amount paid in so far (4300), or much less or much more?

Those figures again :-

25 year endowment for 26,500 with 11 years gone and 14 left to go. (Payments started about July 1992) Total paid in about 4300

If anyone who's done a similar thing lately could give me even a very rough idea I'd be grateful.

Again, thanks for any help - I don't expect accuracy but am only interested in whether it'd be likely to be more than I've paid in, or less, or about the same amount.

Thank you for you time reading this (and hopefully replying to it)

Cubik.

Reply to
Cubik
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A bit more info from my latest statement (not that I understand what it means) :-

Minimum life insurance amount (basic sum assured) - 8337 Regular bonus added December 2002 - 149.80 Total regular bonus - 3469.20

Do any of these values have any bearing on or resemblance to the surrender value ?

Thanks for any advice you can give

Cubik.

Reply to
Cubik

I've tried in the past & failed dismally -

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* Hawk it round the secondhand endowment dealers, they might be able to give you a quote quicker then NU -
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Daytona

Reply to
Daytona

In article , Daytona writes

2nd hand dealers tend to want the surrender value before making an offer.
Reply to
Richard Faulkner

Are they likely to know, if the op makes something up ? Does it become part of the contract ?

Daytona

Reply to
Daytona

In article , Daytona writes

maybe not. but if the figure given is higher than the actual surrender value, and the dealer declines to offer, he wont have achieved anything. If the dealer offers, based on a false figure, the op still needs to find the real figure, otherwise he may be selling for less than the surrender value.

Whichever way you look at it - the actual surrender value needs to be known.

Reply to
Richard Faulkner

In message , Daytona writes

Not without a surrender value they wont.

Reply to
john boyle

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