Co-op With-Profits Endowment

sheslookinhot

I have just ben advised that a policy is maturing on 1-April -09.

Details are;
£4000 sum assured
£25.1 per month premium
17 year duration
payout £5,830

I have actually paid in £5,120. This is a return of £700. :mad:

This seems a very poor to me. In January 08, I was advised the expected maturity value was £6,650, at 4% growth . Even allowing for the current economic climate a reduction of £800 which is almost half my return of last year seems grim.

Am I right to be very agrieved or is this just typical Co-op poor performance ?

Dick_here

sheslookinhot wrote: »

I have just ben advised that a policy is maturing on 1-April -09.

Details are;
£4000 sum assured
£25.1 per month premium
17 year duration
payout £5,830

I have actually paid in £5,120. This is a return of £700. :mad:

This seems a very poor to me. In January 08, I was advised the expected maturity value was £6,650, at 4% growth . Even allowing for the current economic climate a reduction of £800 which is almost half my return of last year seems grim.

Am I right to be very agrieved or is this just typical Co-op poor performance ?

You've had £4k of life cover from the start though, that isn't free remember.

When you were advised of the maturity value at that time which is slightly different from 'expected maturity value' did you ask what the surrender value was at that point ?

sheslookinhot

No !!!!!!, I didn't ask. I would not have thought it would have been a good idea surrendering a policy so close to maturity.

What I do know is that a surrender value after 12 years premiums was £3,200, £400 less than I had paid in.

Dick_here

sheslookinhot wrote: »

No !!!!!!, I didn't ask. I would not have thought it would have been a good idea surrendering a policy so close to maturity.

In these days of falling returns that may have been a mistake. Bear it in mind if you have any other policies.

I understand and sympathise though. I remember old CIS Industrial Branch policies paying out between 3 and 4 times the Sum Assured at the time you took yours out for a 17 year term.