I have a Whole life with profits , 2nd series insurance (Prudential), which has been in force since 1990. I am wondering whether I should just surrender the policy to benefit from the cash?

Your policy right now is almost entering it's 30 yr period. This means that it would have broken even by now and everytime you pay a premium, the policy could be earning a 6-7% return.

Because there's a compounding effect on the policy, I suggest you calculate the projected year on year returns from this year onwards. It may be the best low risk product to own at the moment.

If you do not need the cash, I wouldn't suggest taking it out. Unless you have other ideas of where to invest the money. And since it is in profit, you can treat it like a plan that still provide you with coverage and at the same time earn a higher interest than your savings account. When you reach the age range of about 65 to 70 and you do not need the coverage anymore, surrender the policy if you would like to use the cash for retirement purposes. Or leave it to the next generation as legacy.

So you brought a whole life plan for investment?

have you calculated your irr?

seeing the agents' answers below are very entertaining lol

If you are not in need of cash, why would you surrender your policy, and put the cash which you have faithfully accumulated over the years in investment risks?

If you bought the policy for protection, shouldn't you be keeping the policy, or have your family situation/life stage changed that you felt the protection is no longer needed?

Most whole life policies returns plateau at age 70. So that is a good thought if you are not looking into the death benefit.

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