Anyone with a 25 year endowment which matured recently ?

Hello. This is my first post, so here goes...
Just had notification today of my Sun Life of Canada endowment that was for £5,000.00 after 23 years.I'll be getting around £ 3,340.00 at the end of January. This will work out at £856 more than I have paid in. I would be interested in what people on here think about this...Thank you in advance.

We also took out a 25 year endowment in March 1988, but with L&G. We paid £63.80 a month after a few years of a low-cost start. The target was at least £34,500 and just before Christmas we were told it 'could' pay £26,000 with a terminal bonus. We have since been told that the rate for a final bonus will be reviewed on the 21st February this year, just 7 days before our policy matures! The expectation is that the payout will decrease of course. Another post on MSE said another company's rate had recentlt reduced from 31% to 21%.
I shall post my final figures in a few weeks. We never received anything for mis-selling because we started a few months earlier than regulation started.

Our 25 year Aviva NU "Low start" policy started Mar 1988 and was expected to make £30,000. The latest estimate of maturity value next week is £23,100 (Sum Assured £10.3k + bonuses to date £6.4k + Aviva's "Promise" £4.5k + Final Bonus £1.9k = £23.1k).

Premiums started at £30pm rising to £60pm over 5 years, thus averaging £56pm overall and the £30,000 joint life cover included would now cost £11pm (2 lives, M:43 F:36, at start).

Back in March 2007 we complained without success and were offered £15,600 on the market. We kept on paying and appear to have covered the extra premiums.

However, with annual bonuses of only £30pa for each of the last 10 years (down from £550pa at the start) and a shortfall of £6,900 it seems a pretty bad outcome. How does it look to others?

Our policy matures in May this year and we have just had the estimated amount they are going to be pay out just short of £30000, does anyone know do we have to pay tax on this and if we do what the percentage is?

janedoe wrote: »

Our policy matures in May this year and we have just had the estimated amount they are going to be pay out just short of £30000, does anyone know do we have to pay tax on this and if we do what the percentage is?

It depends. Is it a qualifying policy?

If it is, no income tax is payable.

If it isn't, you may be liable to income tax.