Anyone with a 25 year endowment which matured recently ?

KnightInd2000

Rick_and_Mortgage wrote: »

Monthly Payment - £70.14
Maturity Value - £43,947.73

I make that 5.44% so I think you should be pretty pleased with that (under the circumstances)

timrowlands

Rick_and_Mortgage wrote: »

I thought I would post this information as this forum has been of great use as a resource for me in the past.

Standard Life Homeplan endowment which matured on 14th June '18

Target Amount - £50,320.00
Monthly Payment - £70.14
Term - 25 years

Value of Life with Profits fund - £22,503.84
Final Bonus - £14,391.89
Mortgage Endowment Promise - £7,052.00
Maturity Value - £43,947.73

I have a Standard Life Homeplan that matures next March.

Out of interest, how does your MEP compare to the range that was quoted on your annual statements?

fewcloudy

timrowlands wrote: »

I have a Standard Life Homeplan that matures next March.

Out of interest, how does your MEP compare to the range that was quoted on your annual statements?

I had a Homeplan that recently matured (further up thread).

My May 2017 statement estimated the MEP could be between £1500 - £2250

In the event it was £3749.99

toffifee

Our Standard Life Homeplan matured on Monday and we've just received the letter, on the same day the money hit the bank account.

Target amount - £77,902.00
Monthly Payment - £113.19
Term - 25 years

Value of investment linked units - £31,749.96
Value of Life with Profits fund - £17,993.91
Final Bonus - £11,684.80
Mortgage Endowment Promise - £13,002.00
Maturity Value - £74,430.67

Given that a few years ago I thought we'd be lucky to get £50k, I'm extremely pleased with this.

Arkers

Excellent news Toffifee - enjoy!

Arkers

mike678

Hi,

Just received payout on a Standard Life 'low cost' endowment policy:
Term: 30 years
Premium: £86.50 pcm
Illustrative value: £54,908
MEP range: £7-10,000

FINAL PAYOUT: £74,533
(shortfall: 21,000)

I'm very happy, as I was expecting to get maybe £60,000 judging by the MEP range they sent us last year. Will be passing some of the cash to help pay down my kids' mortgages. Money Merry-go-round!

Arkers

Thanks mike678, I have a SL policy maturing next July, so I was interested to hear the final payout wasn't as dire as you thought. Enjoy the money, and I'm sure your children will appreciate it.

Arkers x

KnightInd2000

Our Endowment was due to mature next Friday 31/08/18 but we received our cheque(s) last Friday 24/08/18!
Details as follows…

Provider: Phoenix Life (originally Royal Life)
Monthly Payment: £55.42
Term: 25 years
Target amount: £40,000

Basic Sum Assured: £13,316
Added Bonuses: £5,845
Final Bonus: £13,796 (72%)
Mortgage Endowment Promise: £0 (Phoenix never mentioned one)
Maturity Value: £32,957

10 years ago they were projecting a final value of just over £20,000 so we reduced our £40,000 interest only mortgage to £20,000 and added the rest to our repayment mortgage (which is now currently at about £21,000) so we are not in such a bad situation now. Could’ve been worse so I’m fairly pleased with this.

NB: I think the compound interest would have had to be about 5.07%

Richmc

My endowment matured Monday it's now Thursday and Scottish widows still haven't paid up! Funny how they took all the payments bang on time for the last 25 years, but seem to have issues paying out on time, still you know the Scots and money!!!
That was supposed to be a £70,000 endowment that's paying out a little under £50,000 from £102 p/m. Still good fortune meant I paid my mortgage off early anyway.

dunstonh

My endowment matured Monday it's now Thursday and Scottish widows still haven't paid up!

Monday was a bank holiday. It takes a few days for the funds to settle and then a few days through the clearing cycle.