Life Assurance-value lower?

jack290292

Hi,

Can anyone please help?

My Father passed away 3 weeks ago. He had a fully paid up life assurance policy. It was paid up in 1999 and the value then was the £1680. I have now had a letter that states his policy is now worth £1449.....does this seem right? I thought there would be a few pounds more now than when it was paid up in 1999....even if it was only interest payment?

It is with the cooperative.

Thanks for any help.

dunstonh

It was paid up in 1999 and the value then was the £1680. I have now had a letter that states his policy is now worth £1449.....does this seem right?

Yes.

I thought there would be a few pounds more now than when it was paid up in 1999....even if it was only interest payment?

They dont get paid interest. They are subject to investment returns and the markets dropped over 40% in recent times virtually putting us back to 1998 pricing. So, the figure seems right based on that.

jack290292

Many thanks for the info dunstonh. Will just fill in the claim form then.
Good job Dad had enough money in his bank to cover his funeral expenses.