Friends Provident Endowment Cash Value via FriendsLife website

y002cjw

Hello,

Just wondering if anyone else is tracking their Friends Provident Endowments online via the FriendsLife website?

As mine is due to end next May 2013, I have been tracking mine on a monthly basis. It has been rising nicely over the course of the year and then suddenly this month the cash value has dropped in one month by £2300. Im not aware of any sudden movements in the stock markets or interest rates in the last 4 weeks but there may be other factors I am not aware of which affect the value of policies.

I have contacted Friends by email but no one has contacted me back - yet!

May be Im on the wrong track in that current Cash Value has no relation to potential Final Value of the policy.

Any help appreciated.

y002cjw

UPDATE:

Since my original posting in August when the "Cash Value" quoted on the FriendsLife website was £53,800, the "Cash Value" has increased to £54,400, but still along way short of the £55,900 it was back in July.

I am still paying £100 a month with the policy due to mature in May 2013 (7 months time).

I would still be interested in knowing how the "Cash Value" quoted on the website relates to the final payout.

Anyone know what bonus rates Friends Provident policies are paying on maturity at present?

Anyone know what annual rate of return Friends Provident policies are achieving at present?

Any info appreciated.

dunstonh

If it is unit linked then the fund value will fluctuate daily. If it is with profits then the main changes are typically around twice a year (normally around February and august. Typically reflecting the returns in recent times.

y002cjw

Found the answer - mid year review....

I cant post the link because I am a new user - but a search in google on friends provident terminal bonus will provide a link to the friends life site

What I need to find out now is what is the terminal bonus currently being applied to 25 year old Friends Provident with profit policies?

dunstonh

you get small fluctuations during the year but the final bonus tends to only get adjusted twice a year unless major swings occur.

y002cjw

Found the answer - mid year review....

I cant post the link because I am a new user - but a search in google on friends provident terminal bonus will provide a link to the friends life site

What I need to find out now is what is the terminal bonus currently being applied to 25 year old Friends Provident with profit policies?

shakedown

Did you ever find that Terminal Bonus ? Is that applied on top of the Cash value ? I've got one maturing in August...

Makela2009

Hi
been looking at friends life as my endowment matures in april - not sure where to find the tracker - can anyone help please?

y002cjw

In response to the last post "not sure where to find the tracker" - if you mean how do I keep track then the answer is to login via the friends life webpage - search on friends provident login - use the login/register button then follow the process - cant remember how complicated it is.

Sorry Im a newbie so cannot post links

y002cjw

Any IFAs out there?

Do you have any examples of 25 year old Friends Provident with profit policies paying out recently?

My policy is £103.25 a month and due to mature in May 2013.

Are terminal bonuses still being applied?
If so what percentage?
And to what portion of the endowment is this percentage applied to?
i.e existing bonuses, sum assured, etc.

Thanks in advance.

PS: Since my earlier posts the "value" of my policy when I check online has increased to just over £60k - it jumped by over £5k in January.

y002cjw

Cash Value up another £318 this month (£103 monthly payment). Cash value now £60,900.


Apparently a terminal bonus of 95% of accrued bonuses will be applied. My accrued bonuses at May 2012 were £16k.


Does the Cash Value in any way reflect the terminal bonus?


Or will I be awarded 95% of £16k on top of the Cash value of £60k.


Lady on the phone unable to advise on the above 2 questions as she is not a financial advisor, plus I am no longer allowed to see my bonus statements online for some reason.


The policy is a conventional life policy
As at 2012 statement in May 2012 the figures for my policy were

Last year's guaranteed cash sum £45,473.92
Sum assured £29,068.00
Declared bonuses £16,446.93
Minimum guaranteed cash sum at maturity £45,514.93
Current surrender value £55,342.80


As always any help appreciated.