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Co-op -Endowment with Profits
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sheslookinhot
Posts: 2,273 Forumite
I have just ben advised that a policy is maturing on 1-April -09.
Details are;
£4000 sum assured
£25.1 per month premium
17 year duration
payout £5,830
I have actually paid in £5,120. This is a return of £700. :mad:
This seems a very poor to me. In January 08, I was advised the expected maturity value was £6,650, at 4% growth . Even allowing for the current economic climate a reduction of £800 which is almost half my return of last year seems grim.
Am I right to be very agrieved or is this just typical Co-op poor performance ?
Details are;
£4000 sum assured
£25.1 per month premium
17 year duration
payout £5,830
I have actually paid in £5,120. This is a return of £700. :mad:
This seems a very poor to me. In January 08, I was advised the expected maturity value was £6,650, at 4% growth . Even allowing for the current economic climate a reduction of £800 which is almost half my return of last year seems grim.
Am I right to be very agrieved or is this just typical Co-op poor performance ?
Mortgage free
Vocational freedom has arrived
Vocational freedom has arrived
0
Comments
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Even allowing for the current economic climate a reduction of £800 which is almost half my return of last year seems grim.
From January 08 the markets have dropped over 30%. You are comparing a projection that is showing an example 4% growth.Am I right to be very agrieved or is this just typical Co-op poor performance ?
A combination of bad timing and obsolete product.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
That return is appalling !! but unfortunately probably in line with industry returns for that type of investment .
The regulations which have been introduced over the last 20 years has to be paid by someone and I am afraid its the policy holders who have been footing the bill0 -
I still have another two similar CIS endowments running for another 4years. When I complain aboout this one, then I will ask for maturity expectations and surrender values.
This policy was taken out 17 years ago to help me see my son through uni. He has just had 5 unconditional acceptances from Glasgow and Strathclyde, so it looks like it was at least some good financial planning.Mortgage free
Vocational freedom has arrived0 -
We had one a few years ago that matured after paying in for 10 years. We got back £80 more than we paid in!0
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