Poor endowment return

[LeadFarmer]

Ten years ago I took out an endowment policy, paying in £30/month.
It matures in December, having paid in a total of £3,600 over the ten year period.
If the markets hadn't plummeted recently then I was kind of hoping for a payout of £4k plus, based on what I got from m previous endowment policy...

Just got my statement today and its paying £3,900, giving me a return of just £300 over the ten years!!
I guess I have to see it as a savings account that I wouldn't otherwise have had, but in hindsight I wish I'd paid the £30 into my mortgage every month.

[snabzter]

What type of endowment is it? Is it with profits or non profit? Is it a letter giving a maturity value or is it giving a the sum assured plus regular/annual bonuses?

With an endowment you would also have had life cover, which has a cost to it.

[xeny]

Don't know, but I wonder if the relatively small amount meant that any fixed costs had a disproportionate impact?

[Simpo Two]

Who sold it to you and with what justification?

I thought endowments had died long ago after woeful returns and misselling.

[Caddyshack]

Endowments had ended long before 10 yrs ago. Most ended 22 yrs ago.

[i4got]

Caddyshack said:

Endowments had ended long before 10 yrs ago. Most ended 22 yrs ago.

I'm guess not given the O/P's statement.

[Caddyshack]

i4got said:

Caddyshack said:

Endowments had ended long before 10 yrs ago. Most ended 22 yrs ago.

I'm guess not given the O/P's statement.

I was in the industry when they stopped them. Maybe it was a bundled isa product or some very old fashioned insurance policy still being sold by an odd company.