The figures were in data given to the FSA by Phoenix Group, which runs down old with-profits funds at minimum cost, the Daily Mail reports.
At their height, endowments paid out over £100,000 on a similar level of savings.
But this year National Provident Life, owned by Phoenix, will pay £22,918 - an annual return of just 3.2 %. The average savings account would have given 3.4 % over the same period.
Other results from Phoenix Group include £23,195 from a similar policy with Crusader and £24,451 from Life Association of Scotland.
Savers who originally took out a policy with Scottish Mutual or Scottish Provident have done better at £32,348 and £32,985. Royal Life managed £33,642 and Britannic £33,077.
These returns are better than those produced by Standard Life (£28,900) and Scottish Widows (£27,184) whose funds are still open.
Other funds run by Phoenix include Phoenix and London (£25,533), Britannia Life (£25,401) and London Life (£29,071).