endowment matured

paul_t_7

my endowment policy matured on the 28th october, it is now the 2nd november and i have not received my money from PEARL, surely the money should be in my account on the day of maturity, is this standard procedure. the shortfall was bad enough now i have to wait! anybody had the same treatment?

opinions4u

Patience is a virtue and you don't appear to have any.

If you've had no letter telling you what is going to happen then call them and ask.

Perhaps there's a cheque / letter in a sorting office somewhere waiting for a striking postman to deliver it at some stage.

kissjenn

They may have written to you to ask where you want the money if electronic transfer so letter in post.

Most companies send cheques so again it may be in the post.

Third option is assignment - were the endowment papers held against a mortgage? If so they may be talking to the finance provider.

My advice would be to ring them and ask what's happening.

dunstonh

surely the money should be in my account on the day of maturity

No. If the policy doesnt mature until close of business on a given day then you cannot get the endowment earlier than that.

anybody had the same treatment?

Give us a break. Its only a few days since it matured. Even if done efficiently, they would do it Thursday or Friday. How did you instruct them to pay the money? If it was via bank payment then that would still be 3 days to go through. If by cheque then its probably held up in the post.