Endowment Letters

hansi

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.

dunstonh

They are still going out and potentially, they will remain being issued whenever an endowment is off target.

itslougher

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

Gav

dunstonh

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.