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Surrendering Endowments
Comments
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Standard Life - One phone call to surrender endowment and cash in my bank 4 days later.
Prudential - One phone call, form sent for signature and bank details and cheque by return.
Aviva - One phone call for the 6 page forms to be sent and a dozen or more phone calls since, has yet to produce a single penny in my bank account.
And the moral of the story? Look before you weep!Abandoned0 -
Both Std Life and Aviva have MEPs on most of their endowments. Surrendering theirs can be a bad option as the MEP is lost on surrender. If the MEP is only worth £500 then fair enough but if its £10,000 then its a major issue.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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