- Inancial advice liVith an election imminent, there are some . a Int
hearts cashing in their endowment Insurance policies. Some because they need the money and others because they have not got ‘'.1101-igh income left during these inflationary utiles to pay premiums. They feel now, as they should when they entered into their committrnent, that a term life policy with a very low Premium gives the same protection for a wife a. rid family and that Mr Average is as good as an Insurance company at looking after his savings. But it should be remembered that a with Profits endowment policy has a miserly surrender value during the first ten or twelve Years of a typical twenty or twenty-five year agreement. The. insurance company has discretion a's to the amount of 'profits' that they 113lay back and it is a lucky man who gets back all
e has fi paid in, far less lost interest during the rst few
years. However, if you are forced to veash Your policy remember to get a quotation `trkom a specialist in reversions as well as from "e company itself. Your insurance broker will
give you the name of someone who does this and they can be counted on, in usual times, to give you 10 per cent or so more on the surrender value.
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