"People are already struggling with their day to day living expenses, so finding out that the final bonus rate on their endowment has been cut too - potentially leading to an endowment shortfall - is just rubbing salt into the wound," she said.
"Those with endowment policies basically have four choices; continue paying into the policy, making their policy 'paid up' which means keeping it but stopping contributions to it, surrendering it back to the insurance company or selling it on to an endowment broker," she said.
"Policyholders can get more - an average of 10 to 15 per cent more - by selling rather than surrendering - and there is potential for up to 45 per cent more, so it is certainly worth considering."
