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Endowment Letters
hansi
Posts: 3,001 Forumite
Are companies still supposed to be sending out the red amber and green letters about endowment prospects? If so, I haven't had one from Prudential yet.
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Comments
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They are still going out and potentially, they will remain being issued whenever an endowment is off target.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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Is there anyone out there with a Norwich Union endowment policy?
I have been abroad for a few years working and have had no contact with Norwich Union (except to pay the monthly DD).
Does anyone know if there is going to be a shortfall with their policy's? Any letters been sent out from them?
Any advice would be greatly appreciated.... before i send them a letter
Gav0 -
Some will, some wont. Depends on the target growth rate that was used when it was set up. If it used 7%, it will be at least amber as they have to forecast at 6% now. If it used the lower 4.4% (the .x% may be out as i cant recall what they offered back then) then you may well still be on track for green.
Not all endowments are bad. If you have a lower target growth rate one, then you could do nicely out of it with a company like NU. Some are bloody awful and were obviously awful before they were even commenced.
Ask your IFA to get you a forecast or ask NU directly if you dont deal with that IFA anymore. Or ask another IFA to get it if and they will transfer the plan to their agency.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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