Scottish Friendly Bond Maturing Soon

BeastJ11

Hello,

I have the following 'with profits' policies:

Scottish Friendly policy £10 per month for the past 10 years (£1440 paid in by the time it matures) and

Children's Mutual Trust policy £15 per month for the past 10 years (£1800 paid in by the time it matures)

Does anyone have an idea of what payouts I can expect?

This is due to mature in October 2011.

Also, I have read that you can sell your bonds to a broker, do you know if it is possible with these types of Bonds and how do you initiate this?

Like some of the other people on this thread, I am quite clueless and this was just a good way to stop me blowing the cash when I first took the policies out.

Many thanks for any advice that can be offered.

dunstonh

Does anyone have an idea of what payouts I can expect?

Crystal ball job. However, best to assume minimal as these are obsolete products.

Also, I have read that you can sell your bonds to a broker

No you cant.

vulcan59

I had a £25 per month 10 year Scottish Friendly bond mature about a month ago. You should get a letter from them fairly soon telling you the maturity value and giving you the option of cashing in or continuing to make contributions. I paid in £3000 over 10 years and received £3436. Not a brilliant return but not the disaster I was expecting. When mine matured there was a good terminal bonus which made all the difference.

nataliecbird

Hi folks, I also took out the Scottish Friendly bond, in July 2002. It's set to mature on 01-Aug this year so I called them for a bit of info on what it might be set to return. Have invested £25/month for ten years, so total of £3,000. This is what they told me:-

Minimum guaranteed amount is £2,617 + £169.86 in bonuses paid so far
Total of £2,786.86 plus a final terminal bonus, which they were not prepared to give any indication of what that might be.

Anyone have any idea of what final bonuses look like with this scheme? Does it vary wildly? The advisor on the phone said that it was something worked out over the ten-year term; the performance of the fund over the past 5 years at least seems to be outperforming the general with profits category. Should I be hopeful?!

dunstonh

Should I be hopeful?!

No. The plan was obsolete before you bought it. Now it is archaic.

The advisor on the phone

It wont be an adviser.

Anyone have any idea of what final bonuses look like with this scheme?

Crystal ball job but don't hold your breath. If you get your money back what you paid in then that would not be a bad result.