Life cover

elliehenny777

Now that we have sorted out our Standard Life mis-sold mortgage: (we got a whopping sum) I now need information on life insurance for my husband and myself. We have just received our shares pay out and were delighted with that too! Nice to get money off them for a change.

But my query is: Should we sell our Standard Life life insurance policy and re -insure with someone else? We have been advised by an IFA to do this, but would value MoneySavers unbiased expert opinions. Have been told we would get enough to pay off the mortgage. We both retired recently at 60, so have lots of time to enjoy it. Having read so much info recently, I'm now in need of clear non-gobbledly-gook advice.
Thanks,
Ellie

dunstonh

We have been advised by an IFA to do this, but would value MoneySavers unbiased expert opinions.

So, you would rather take opinions from people you dont know, who know nothing about about endowment policy over the unbiased FSA approved recommendation from an INDEPENDENT financial adviser who has all the policy information to hand to make that recommendation.

I'm now in need of clear non-gobbledly-gook advice.

Its against board rules and FSA rules to give regulated financial advice on these forums. If you want advice, go back to your IFA.

elliehenny777

>>>Its against board rules and FSA rules to give regulated financial advice on these forums. If you want advice, go back to your IFA.<<<

I found your reply rude and dismissive, I did not intend to break any rules or seek regulated advice from anyone.

I wanted opinions from others who may have more knowledge/experience than me, or my IFA, which was no reflection upon you or your colleagues. I'm entitled to use this board within the rules, just as you are, without being treated with such extreme rudeness.
Ellie

MortgageMamma

DunstonH! Are you having an :mad: off day hunny?? Go get a cuppa and a quick neck massage...:coffee: :wall:

dunstonh

I found your reply rude and dismissive

You were more willing to look at opinions from people who know nothing about your policy or circumstances compared to an IFA who you gave the impression you thought was biased and you didn't trust. My initial paragraph just highlighted my bewilderment but was not rude.

I did not intend to break any rules or seek regulated advice from anyone.

You did both. You asked what you should do with a regulated financial services product and requested "...clear non-gobbledly-gook advice."

I wanted opinions from others who may have more knowledge/experience than me,

SL have issued many variants over the years. Each variant has different options, addons and target growth rates. They also have access to different funds and arranged on different charging scales.

Some will be very good, some will be very poor.

Without having that information available to them, how do you expect anyone, qualified or unqualified, from being able to give you better opinion/advice than someone qualified that has got that information available to them?

I'm entitled to use this board within the rules, just as you are, without being treated with such extreme rudeness.

I'm sorry that you felt that pointing out that we couldn't give financial advice on the forums was rude. Just for clarification, here is a copy and paste of the board rule in question:

Forum users are asked to make it clear if discussing a topic they have professional knowledge of that they work in that field (but do not tout for business). However, please do not give advice.

elliehenny777

I still think you are deliberately misinterpreting my intentions, however I no longer wish to discuss this matter with you. There are other IFA's who use this forum and who are just as able to inform without being overbearing.

Martin's advice is always to shop around before deciding on any financial transaction. Seeking further guidance or opinions does not mean I dismiss advice from my IFA who is an excellent and well informed advisor. He most cetainly would not take offence as you have done.
Thank you, I can read and understand rules and regulations perfectly well.

As an IFA, what are you doing if not giving your informed opinions, which could be misconstrued as 'advice' ? I think anyone with the intelligence to consult this forum has a degree of commonsense and the ability to decide if proffered opinons are worth pursuing or not.

If anyone wants information about my SL policy and/or circumstances before offering an opinion or comment, they are at liberty to do so.

Perhaps you might ask yourself why you are being so high handed, this is, after all, only a chat forum, not a life or death situation. Such an attitude won't win you any accolades.