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Phoenix Life Assurance transfer to Royal London
GrannyKate
Posts: 1,872 Forumite
We have a Low Cost Endowment Mortgage Plan (no longer used for the mortgage) which was originally taken out with Abbey Life then moved to Phoenix. We now have a letter today saying the policy is being transferred to Royal London.
There have sent lots of information but I wonder if any Life Assurance gurus out there could explain what if anything this actually means for us.
The policy is due to mature in October 2011 - original target was £35000 but only likely to pay about £28,000 based on middle rate estimate. We have kept this and 3 others going although mortgage is now repayment to provide extra for retirement as neither of us have complete pension records.
There have sent lots of information but I wonder if any Life Assurance gurus out there could explain what if anything this actually means for us.
The policy is due to mature in October 2011 - original target was £35000 but only likely to pay about £28,000 based on middle rate estimate. We have kept this and 3 others going although mortgage is now repayment to provide extra for retirement as neither of us have complete pension records.
2026 Decluttering and redistribution 193/1526 Major job list 40/500 Total 233/2026
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2026 Weight loss 1st target 2/19
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2026 Bathroom pot (target £10000) - 35%
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Comments
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Hi there
Royal London own Phoenix, so I assume that this is just some kind of internal transfer of business (I'm not an IFA, so others may be able to advise you better).
If I were in your shoes, I would not be unduly concernedIn the beginning, the universe was created. This made a lot of people very angry and was widely regarded as a bad move.The late, great, Douglas Adams.0 -
It means nothing at all to the individual.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
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Many thanks - I guessed it was just some legal process they have to go through. Used to work in Life Assurance but its 36 years since I left so a bit rusty on who's who currently.2026 Decluttering and redistribution 193/1526 Major job list 40/500 Total 233/2026
2026 Weight loss 1st target 2/19
2026 1p Challenge 59/365
2026 NSD Feb 4/28
2026 Bathroom pot (target £10000) - 35%0 -
Yes I have the same, it doesn't mean any change to any policiesWins: Feb - Sam and Amanda DVD, Nanny Series, £50 Mother Day Goodies box0
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Used to work in Life Assurance but its 36 years since I left so a bit rusty on who's who currently.
You would have seen loads of old names vanish from the market place. Quite sad really.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
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