Twee, why don't you simply call them with regard to freezing, and then you will get (hopefully) a more accurate picture. As far as I am aware, if you cash in the policy before maturity, then yes you will lose the terminal bonus because the policy did not mature. The terminal bonus is seperate from the annual bonus, and is effectively a 'loyalty' bonus.

The alternative is FREEZING them - has anyone done this with endowment policies ?

What happens to their value in 4 years time ?

Does FREEZING - affect just the Terminal Bonus - because the annual bonuses are not worth even considering

Is the value in 4 years time based on todays surrender value or the full value in 4 years time ?

I am confused and need advice

Is it worth cashing in my two Phoenix endowments now or should I hang on to them for another 4 years until maturity

I have a surrender figure of less than half the insured value (considerably less) - which in itself is 80% of my payments over the last 21 years - and can't get any more on the second hand endowment market - the guaranteed payout is only £3,000 more - which with my payments of £76 (combined) per month - appears to make sense to dispose of them now

The only fly in the ointment is the Terminal Bonus - try as I might - Phoenix won't give me any idea as to the figure that I might receive - but with the current financial problems - I don't hold out for much

If I did cash them in - it will leave around £10k outstanding on my mortgage - is Nationwide going to be happy for me to convert this loan to repayment ?

Oh yes - I have received almost £6k compensation for missold policies

Any / All advice welcome