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Standard Life's Mortgage Endowment Promise
LeafyBarnet
Posts: 31 Forumite
"Remember that your plan currently satisfies the eligibility criteria of the Mortgage Endowment Promise and, if the relevant conditions are satisifed, may qualify for a payment under it."
So it may, or it may not.
"A payment" could be 5p.
What are SL currently paying out under their MEP?
Endowment assurance: 92 per month.
Matures in Dec 2009, after 25 years.
Current surrender value: 24200 plus a terminal bonus of 96. (Wow, some bonus).
So it may, or it may not.
"A payment" could be 5p.
What are SL currently paying out under their MEP?
Endowment assurance: 92 per month.
Matures in Dec 2009, after 25 years.
Current surrender value: 24200 plus a terminal bonus of 96. (Wow, some bonus).
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Comments
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hi
were did you find this info i am trying to find out whether partners is covered by this promise but ex has put policy in bin its due to be paid of next week0 -
LeafyBarnet wrote: »"Remember that your plan currently satisfies the eligibility criteria of the Mortgage Endowment Promise and, if the relevant conditions are satisifed, may qualify for a payment under it."
So it may, or it may not.
"A payment" could be 5p.
What are SL currently paying out under their MEP?
Endowment assurance: 92 per month.
Matures in Dec 2009, after 25 years.
Current surrender value: 24200 plus a terminal bonus of 96. (Wow, some bonus).
I don't know about the Mortgage Promise but I would wager that your policy will pay out less than the current surrender value plus future payments when it matures in December.
Maybe my glass is half empty today.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
The mortgage promise is funded and they are still appearing on the policy details IFAs are sent where the likely mortgage promise value range is shown. Strange thing is that if you ask SL for this information its near impossible to get. Yet they give it without asking to IFAs on the annual summary.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
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were did you find this info
I requested on-line access to my policy figures. Got it, and a printed statement arrived a few days later with the same figures plus the "MEP" position, plus a generic leaflet explaining why I really shouldn't surrender the policy, with an 0845 number offering incentives. Will be ringing that one as soon as I've found out the non 0845 version of the number.0
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