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Endowment Shortfall Options
rosegirl36
Posts: 167 Forumite
Not sure where to put this post?
I have a 68000 mortgage of which 23000 is repayment, the rest is interest only of 45000, i have an endowment policy with Scottish Widows which was meant to cover this amount.I have gone down the road of claiming misselling to no avail, went as far as the ombudsman etc.
Anyway as things stand i have received a red alert letter of Scottish Widows stating that the endowment has a potential shortfall of 17250 at growth of 4% 12250 at 6% and 5950 at 8%.The policy has 10 years and 9 months to go to maturity.Anyone know what by best option is?
I have a 68000 mortgage of which 23000 is repayment, the rest is interest only of 45000, i have an endowment policy with Scottish Widows which was meant to cover this amount.I have gone down the road of claiming misselling to no avail, went as far as the ombudsman etc.
Anyway as things stand i have received a red alert letter of Scottish Widows stating that the endowment has a potential shortfall of 17250 at growth of 4% 12250 at 6% and 5950 at 8%.The policy has 10 years and 9 months to go to maturity.Anyone know what by best option is?
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Comments
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Post some info about it
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
interest rate on mortgageTrying to keep it simple...
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The only information i can find is
total value of policy 9647
premium is 67 a month
interest rate is 3.5 variable on mortgage.0 -
Ring them up to get the surender value and updated projections.Is it a with profits policy?Trying to keep it simple...0
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I will ring up thanks to get surrender value etc
it is not a with profits policy0
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