My 77 yr old Uncle has a 19 year old life assurance policy. After the annual assessment in Feb this year, he is paying £80 per month for £17,500 assured sum.
Originally the policy was £40 per month for £20,000.
The whole policy just smacks of a fortune per month for very little return, especially for a pensioner.
Canada life have offered £1300 to cash it in.
Knowing very little about these policies, can anyone advise on his options please?