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Zurich Adaptable Life Plan - Keep or Bin?
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# 1
xx Law Grad xx
Old 15-04-2012, 12:28 AM
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Join Date: Jun 2009
Posts: 69
Default Zurich Adaptable Life Plan - Keep or Bin?

My mum has given me her folder full of all her savings and investments information as she does not understand it all. Thankfully most of it has been straightforward and was just a case of moving money from a cash ISA paying 0.25% to one paying 4% +.

However, I have come across paperwork for a Zurich Adaptable Life Plan which I am having trouble understanding. It was originally taken out on the advice of an IFA with Allied Dunbar.

The paperwork states that the current life cover is 67,479 and her monthly payment is 33.30. The current cash in value is 4,140.40. The plan is invested in the Managed Fund.

Is there any reason for her keeping the life plan? Is the performance satisfactory? If there were no reasons for keeping it can she just cash it in or are there penalties?

She is in her 50s and in good health. Financially she is fine and has more than enough money to get by in retirement.

Sorry I am really unfamiliar with this product so thought I would ask here first.
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# 2
jayship
Old 15-04-2012, 1:54 PM
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Join Date: Aug 2010
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At her age it may be difficult to get 67K life cover @ the premium u r paying. Depending on the t&c you may be able to change the fund. However other forum readers may come up with their experience and give you a better insight. It all comes down to whether you need or want the life cover.
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