Help with an old Endowement please

[willspal]

Hello.

We have an old endowment policy that has about 6 years to go until maturity. Its NOT going to be used to pay off our mortgage but my husband has kept on paying it. Its around �45,000 and to be honest I feel we should cash it in, do some home improvements and put the rest into a pension plan as my husband only has a small pension and he is 40 and I have nothing being a full time Mum. Or should we put it all (or whatever we get for it) into a pension. Also does anyone know the best place to go for advice about who or where to sell it.

Thanks so much in advance.

[dzug]

Certainly don't surrender it without seeing what you could sell it for.

There is a reasonable argument for keeping it going if you can afford it and don't need the money desperately. By the time it matures it is likely (but not guaranteed) that terminal bonuses will have recovered and you may be pleasantly surprised with the result. Alternatively make it paid up - stop paying in, but leave it to maturity.