scottish life endowmwnt

betterfixit1

We have an endowment due this year though Scottish Life. We paid £39 a month from 1986 (nov) mortgage 28,950.00. Is there a way I could check what the amount should be or can anyone give me an idea?

dunstonh

Is there a way I could check what the amount should be or can anyone give me an idea?

Scottish Life can give you a current value. They cannot give you a maturity value though as you wont know that until it matures.

betterfixit1

I have some sort of figure but would like to know how to check that as they are underpaying

kingstreet

TBH there is no way of checking or comparing one payout against another. You might as well wait until it matures as there's a non-guaranteed bonus paid at maturity called terminal bonus. This is a completely unknown quantity until the day it's actually calculated for your particular policy.

leo_dumpmen

Hi betterfixit1

I am in a very similar position myself. My Scottish Life endowment was also started in November 1986 so matures this month. The premiums were £39.77 and the target £27000. It is predicted to mature at just £18931. In addition to this, SL have agreed to pay a further £2500 by way of a guarantee as compensation from their poor communication.
I have been aware of an increasing shortfall for a number of years so I'm fortunate the mortgage has long since been paid off but I'm just unhappy at how badly it has peformed over the last 10 years. I would like to hear the experiences of other Scottish Life "investors" (mugs!).
I have a long correspondence with SL about the performance and reporting of the policy. Depending on your particular situation I may be able to offer you pointers that might result in your being able to claim the same guarantee I did.
I am about to PM you, please get in touch either by this forum or PM. Urgently.