Is an endowment plan necessary?

Not all endowment plans require a 30-year commitment.

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There are existing endowment plans available for resale where you have the opportunity to takeover them and benefit from shorter duration (from just 5 years) and attractive returns.

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It's not about whether endowment plans are necessary. It's about whether they fit into your financial objective and risk appetite.

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For details on how Resale Endowment Policies work, check out our 4-step blog:

https://www.policywoke.com/resale-endowment-pol...

I bought one 15 years ago. still paying for it as I'm left with 10 more years. it was something i started out with so my finances don't revolve around it now. It forces you to save however, like everyone said, there are better products out there now.

Not really

I have a different but related question. I bought an endowment plan 3 years ago when I didn't know any better. $6000 per year for 15 years. I've put in $18000 and the surrender value is $3800. Should I surrender it before I put in even more, or should I just continue paying for 12 more years?