standard life payout

EdInvestor

Hi Flo

Have you checked this with the company? You used to be able to roll over your membership if you reinvested in a WP bond. What you didn't retain was the seniority of your membership - the number of years you had racked up while you had the endowment. You would be eligible for a windfall payout if you reinvested, but the variable rate payout would be based on the amount of money invested plus how long it had been in the WP bond, which will be not very long. So your windfall payout would be smaller.

There has been some vague rumours lately that this policy has been changed however.


Don't forget to check with your adviser for a full rundown on the risks of investing in Standard life WP bonds if you do go this way, in particular the possibility of an MVA exit penalty and the lack of any penalty free exit date.

dunstonh

Even if you can do it for a mutuality bonus, don't.

margaret_3

dunstonh wrote:

Even if you can do it for a mutuality bonus, don't.

Ooops! What does this mean?
Sorry to be so thick.
Margaret

rizla01

Hi

I have TWO endowment policies which were in joint names till the split up and are now both in my name.

One is for 3k and the other 27k. My mortgage is not dependant on them (just as well, too!)

Question is, if I were to put one of the endowments into my partners name would we both qualify fot a handout at time of DM? Is it possible to do this? They expire on 1/1/2007.

Thanks

Also see My other post

Riz

Mazon

Apologies for bumping this really old thread.

Can anyone answer a quick questtion re the Standard Life demutualisation...were there residence requirements for members to receive benefits from the demutualisation? Ie. Did you have to be a UK resident?

EdInvestor

No. But in some foreign countries you were unable to take your windfall in shares, you had to take a cash payout.