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standard life payout

bockster
Posts: 448 Forumite
can anyone advise please, i have two standard life policies, both part with profits. first is stakeholder pension in my name, second is joint named endowment with mrs bockster, my name being first on the policy. thing is, they say that with joint policies, only the first named is a member. so i am a member twice but only one vote ,and i assume, one payout come windfall day. should i now be making mrs bockster the first named, inwhich case we both have membership rights and, i assume, two payouts come windfall day! or is it to late to make any difference. i know the details of the demutualisation have not been published yet but does anyone have any thoughts or experience from previous demutualisations etc. hope this makes sense, thanks in advance,
bockster
bockster
Please note, we've had to remove your signature because it was sh*te!
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Comments
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I think it will be in your interest to change the first named to your wife,but at this late stage it may be too late.The days of 5000 pounds payouts are long gone,this may only be worth around 800 pounds,but better in your pocket then theirs.My low-cost mortgage endowment matured last year and paid me 4000 pounds over the mortgage amount,this made me no longer a member,but i opened a 5000 pound bond account on the same day and continued my membership,just for the windfall-if it occurs....Political?....I dont do Political....well,not much!0
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yes i'm sure its got to be worth trying. i just don't want to invoke any negative consequences in the process. something silly like membership restarts from time of changing name! :eek: or something like that. i get quite nervous about everything being in order at this point so as not to miss outPlease note, we've had to remove your signature because it was sh*te!0
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It's sounds like a very specific question that only Standard Life can answer. I find them most helpful on the phone - very 'chatty' and no delays in answering phone.0
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i did call them, but the guy could not really answer some questions bcause maybe details not available yet/cannot give financial advice?. and the questions he could answer he seemed unsure of his answers. i'll probably call again and try not to get the yts :rolleyes:Please note, we've had to remove your signature because it was sh*te!0
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They cant give advice and are not allowed to go off script with those sort of questions.
The payout is usually based on number and size of policies held. The voting though is by member. The estimate of average payout is around £1100.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 -
No idea where Dunston got his figures from but my company is coming out with similar figures.0
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...general financial services information that flies around to those in the industry. Every time a figure has come out over the last 3-5 years, it has got lower.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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We have 2 joint policies with SL. I changed my wife to first name on 1 some time ago. I would suggest you change 1 asapDon't waste your words I don't need,
Anything from you.
I don't care where you've been or,
What you plan to do.0 -
yes the request is now in the post, hope its not too late!!Please note, we've had to remove your signature because it was sh*te!0
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