Is it worth keeping a 'with-profits' endowment policy when it is not performing well?

Question

I have received a letter from the endowment company advising me to 'top-up' the premiums quite considerably. I do not wish to do this.

Answer 1

Are you talking about a "full with-profit endowment" or a "low cost with-profit endowment"??

Answer 2

This is admittedly a bit of oversimplification, but I would advise you weigh the cost of the annual premiums versus the increase in benefits over the upcoming year.

If the increase in value is relatively close it's probably worth keeping the contract. Do you still have an agent you can speak with? If not I would ask the company to have a licensed agent contact you to discuss the benefit against the cost.

I can tell you the commission on a contract that's over 5 years old give or take is not that large, so you can be fairly sure the rep won't mislead you for their own benefit (not that they would anyway) Good Luck!!