Endowment help

caz1201

Hope you can help, we paid into an endowment policy for around 18 months, but cancelled it as we got a letter stating that it wasn't going to perform. It was through Royal & Sun Alliance. This was back in 1999/2000. I have since found the paperwork and called them to see whether there was any money but they said no. We never got anything paid out. Does this sound right? Sorry i have no idea where we stand!
Would appreciate some advice.
Thanks
Caroline
SP - The company when i ring is now Phoenix trading or something.

dunstonh

Hope you can help, we paid into an endowment policy for around 18 months, but cancelled it as we got a letter stating that it wasn't going to perform.

Even if you had a brilliant endowment returning 15% p.a average, it would still give a shortfall projection at that point. Whilst you almost certainly made the right decision in this case, it was for the wrong reason.

Sorry i have no idea where we stand!
Would appreciate some advice.

If you surrender in the early years you end up with nothing. Typically, values are not achieved until months 24-36.

caz1201

Oh well worth trying i guess! Thanks for your advice.
Caroline