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24 April 2013

Reducing Endowment premiums?

I am exactly half way into a 25 year endowment and no longer require it for paying off my mortgage. I have just continued to pay in and have it as another savings/insurance plan. I have just spoken to the broker who oversees the plan and he suggested that I might be able to reduce the monthly payments, but would not go into detail until he has a face to face meeting. Is this possible and what implications does it have, I am suspicious that changing the payments will put less into the investment and more into the brokers commission. Am I right or just being overly suspicious?

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