Continue or surrender Endowment plan?
Looking for advice for existing endowment plan
The endowment plan that i have last for 25 years - each month i pay $525.71 (premium $517.14, extra premium $8.57)
However, the guaranteed maturity amount stated in the contract is actually lower than the premiums I would have paid in total by the end of maturity.
Maturity value:
Total premiums paid to date $147,059
Guaranteed $140,786
Non-guaranteed $31,129 (3% returns)
Non-guaranteed $58,789 (4.25% returns)
Above is as stated in the contract, before I signed conditional letter - seems like i will pay more than the stated premiums at the end of maturity due to the extra premium i needed to pay. So far, I've paid about 17 months, initially intent to cancel this as i wasn't feeling comfortable but didn't because i decided to take it as savings.
Should I still continue with this plan? If i surrender now, i will not get any money back, based on what's stated in the contract.
Some other info that i'm not sure if beneficial: 28 year old, take home income $3300, no plans to get married and having children, no other investment yet.
Thank you so much for the help!