Should I surrender SL endowment

ashley

Ed Investor
I have 3 endownments
1) Standard Life Current value £14,016
Sum assured £10,868
Maturity forecast min £15,514
Maturity Date November 2001
0.5% bonus prediction
Monthly payment £50.40 No bonus added last 2 years.

2) Phoenix Life Current Value £11,201
Sum assured £7392
Declared Bonuses £3809
Matures September 2011
Have to contact office for prediction of actual value at maturity but again no bonus added last 2 years.
Monthly payment £27.89

3) Legal and General Savings Plan ,matures any time I want as have held for 10 years
Current value £6527
Gauranteed sum £6660
Monthly premium £40


Mortgage with HBOS ,interest only Budget plan,so fixed at 5.240% for 12 months.
No penalties for repayment.
Mortgage ends November 2017
I tried to claim for mis sold endownment was told that as I went through lawyer and not direct with broker I can get no compensation.
Totally confused .
Thanks for any help and or advice on my next steps.

EdInvestor

Please ring up for the surrender values and post them.Also post full range of maturity forecasts.

ashley

Ok here we go again( its all very complicated you know)

Phoenix Life Surrender Value £9389.20, said they would have to calculate and mail out maturity forecasts!

SL Surrender Value £12,574.55

3.75% a year £17,700 5.5% £18,800 7.25% 20,000

EdInvestor

Ashley

Please confirm SL maturity date.

ashley

Ed SL maturity date is 27th November 2011

EdInvestor

ashley wrote: »

Ok here we go again( its all very complicated you know)

Phoenix Life Surrender Value £9389.20, said they would have to calculate and mail out maturity forecasts!

SL Surrender Value £12,574.55

3.75% a year £17,700 5.5% £18,800 7.25% 20,000

These forecasts can't be right. Please recheck.

ashley

Hi Ed,
no wonder I have so much trouble with my finances. SL sent me "new statement" but its last years. So I'll need to get back on to them.
I take it thats why you reckon forecasts are wrong.( february2008 predictions)

ashley

Hi again Ed,
Spoke to SL on phone said can't give me an actual time scale for when I'll get my real statement but they did give me this information:
Surrender Value £12,574.55
Guarnateed minimum at maturity £15,500.57
Top up between £1480 and £2200 if it goes to maturity
and currently working on a 5.4% final bonus.

EdInvestor

ashley wrote: »

Hi Ed,
no wonder I have so much trouble with my finances. SL sent me "new statement" but its last years. So I'll need to get back on to them.
I take it thats why you reckon forecasts are wrong.( february2008 predictions)

Absolutely :rolleyes:

We'll have to wait for the new forecasts.Drop me a PM after you post them if I haven't picked up on it.