Cis endowment surrender

traylee

I took out an endowment policy October 1996 paying £51.30 per month and rang CIS for a surrender figure as i have decided to use the money i have saved for a deposit on a house.
However, when i first enquired 3/4/09, i was given a settlement figure over the phone of £8433.00 and so i requested the surrender forms.
I rang to chase the forms today and was advised that the figure had been reduced to £7885.00
How can this be reduced by £548.00 in just 13 days?
I have paid £7695.00 into it over 12 +1/2 years so have only gained £190.00 interest in this time.
Is there anyway i could be entitled to the original figure or do i have to accept the final one, which up until me completing the forms could reduce even less.

McKneff

I would have thought you would have to accept the final figure.

You have gained a lot more that £190. You have had life insurance for the past 12and a half years also.

The other option of course is to leave it till the markets recover. Though how long that will be is anybodys guess.

EdInvestor

I would write to clarify this.You should have been sent the surrender forms immediately and the original quote should have been adhered to.

If their response is not satisfactory, make an official complaint