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Life insurance/endowment early payout
gwazi999
Posts: 45 Forumite
Hi all. Not sure if I'm in the right place but here goes. I have a Life policy which is also and endowment policy. This matures April 2010 when I become sixty :eek: . I have had endowments from being about fifteen with the Refuge and the Pru but I seem to remember in the olden golden days of pre ripoff there was availabilty to take your final payment early with no loss of profits (Not that there will be much profits with the current situation). Can anyone help. Have I got this right?
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Comments
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I seem to remember in the olden golden days of pre ripoff there was availabilty to take your final payment early with no loss of profits
I dont recall that ever being the case. A number of contracts ceased to charge a surrender penalty after a given point and you could get the daily value that applied. However, you would get a reduction if it was a conventional with profits plan as part of the maturity assumes full payment of premiums. Nothing to do with pre-ripoff or otherwise.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 -
Hi, regarding your policy. I work for royal london which took over refuge/united friendly. It sounds a silly question, but might it be a pension.
Sounds unusualthat you have an endownment that pays out early. If you got the money early, could you have surrendered it as this could be the reason why it seems lower0
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