Standard Life Low Cost Endowment

okydoky

Thanks for response Dunstonh.

No-one has mentioned MEP value - all I have is a payout of about £13,300 which includes terminal bonus of £1440. The balance of £11900 is basic sum assured and added bonuses.

I did wonder about MEP but nothing mentioned about this - do I need to contact Standard Life about it?

Why have they not said anything about this??

Many thanks in anticipation of a reply.

dunstonh

I did wonder about MEP but nothing mentioned about this - do I need to contact Standard Life about it?

If you have an IFA, then the info is supplied to the IFA. If not, then contact Std Life and ask them if you have an endowment promise value and what it is. Typically it is shown in a range. On the statements the IFA gets, it shows the figure for each of the projected growth rates.

The MEP is not included in the projection. So, you take the projection figure and then add the MEP on top.

Why have they not said anything about this??

The MEP can be the only thing that makes an endowment worth keeping. Some MEPs are well in excess of £10,000. If you surrender the endowment, the MEP is lost and the provider gets to keep the money. You make your own mind up why the providers with MEPs don't go out of their way to remind people.

okydoky

Thanks - no MEP, having checked with Standard Life and also JLT who are the intermediary.

SL say as plan was on track in 2000, then did not qualify for MEP. No chance of mis-selling as policy was incepted in June 1987, prior to FSA establishment.

Looks like I need to bite the bullet and accept that I have a considerable shortfall and that's that :mad::mad: