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Scottish Widows
makemesumdosh
Posts: 325 Forumite
I have had a 20 year endowment style plan with Scottish Widows now for 16 years paying £25 a month. Sum assured was just under £5000 which thinking back is crazy as I pay in £6000. They add bonuses every year but up to now is around £5700. I presume they will add a sizeable terminal bonus in 4 years time.
Has anyone else on the forum had a similar plan which paid a terminal bonus recently ?
Has anyone else on the forum had a similar plan which paid a terminal bonus recently ?
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Comments
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I presume they will add a sizeable terminal bonus in 4 years time.
Depends on what happens between now and then. How much final bonus has it accrued to date?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 -
a final or terminal bonus is only added when the policy matures so no idea0
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makemesumdosh wrote: »a final or terminal bonus is only added when the policy matures so no idea
They accrue and change as you go along.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 -
Perhaps you could ask them for the terminal bonus percentage of a current maturity value for a 25 year plan maturing today to get an idea?makemesumdosh wrote: »a final or terminal bonus is only added when the policy matures so no ideaI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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