Friends Provident endow matures next month

Essex_Maid

I have three endowments. Two with Friends Prov - one matures next month, another March 09. Another with a bank matures in 2010.

I am worried about the first one, as it matures next month. Friends Prov share price has really dropped - i know they have a smoothing process re final bonus but with all the financial probs at moment I am worried that they might go down the pan or just wont pay a final bonus and use current situation as an excuse.

Any thoughts/advice please.

dunstonh

I am worried about the first one, as it matures next month. Friends Prov share price has really dropped

You are not invested in Friends Provident shares though. So, dont worry about that.

I am worried that they might go down the pan or just wont pay a final bonus and use current situation as an excuse.

Friends Prov are an insurance company and not a bank. Whilst they will have exposure to a range of areas of risk, they wont be in trouble in the same way the banks are. You are also protected under the FSCS under the insurance protection.

EdInvestor

Essex_Maid wrote: »

i know they have a smoothing process re final bonus but with all the financial probs at moment I am worried that they might go down the pan or just wont pay a final bonus and use current situation as an excuse.

They don;lt need to use the cureent appalling state of the markets as an excuse.Your endowment money is invested in these markets, so its value will be falling.

You may like to consider surrendering the two which are due to mature earlier rather than later.

If the one with the bank is unit-linked, it is more likely to recover before 2010.