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With Profit Endowment Policy
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I have just got a letter from PRU.stating my final maturity payment will be £8111 payable 1st August.[Yippee].Yet last years quotation showed about £7500.so your maturity terminal bonus might be quite high.I had been paying £16.50 per month for 15/16 years.Was going to be for my daughters wedding/but in these days of just living together,its gone to a new car..
My last With Profits' Endownment Policy with Royal London matured in 2003. I got a quote for the Surrender Value in the previous year and decided that as there was one year to go, I would continue to pay the premiums and receive the Terminal Bonus. Not only were the terminal Bonus's cancelled but the policy was worth less that the Surender value the previous year. These type of policies were great value prior to the large number sold at the end of the 1970s/early 1980s. TAfter that they just could not pay as as thought and illustrated.
My thought are do not touch them with a barge pole!To Dare is To Do:beer:0
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