Countrywide Assured - Is this a Life Insurance ?

jstallan

Hi,

Currently trying to help my Dad sort out some of his financial affairs and at the moment it's going well, but I could do with some assistance regarding some paperwork I've found. I could ask my Dad and will do, but right now I'd thought I'd seek some advice on here.

Found paperwork dated Oct 2008 "Annual Statement of Benefits" from the said company. type of Policy says "Flexible Progressive Plan", "Start date Oct 1980, Maturity date Oct 2063" (my dad is currently 83). "Sum Assured £12k" and the monthly premiums are £17.37.

Is this a life policy payable on Death ?
Would there be any restrictions on age ?
Why have a maturity date making the policy holder 134 ?

Thanks in advanced,
John

dunstonh

Is this a life policy payable on Death ?

A whole of life assurance plan is what it looks like.

Would there be any restrictions on age ?

Only what the policy term is.

Why have a maturity date making the policy holder 134 ?

A lot of these plans from the 80s or earlier were not designed to have benefit statements or modern disclosure requirements. So, often they have to create something to fill a hole. Putting the age at 134 could well be fitting the hole. Or it may be that the maximum term of the policy was 85 years or something like that. It really doesnt matter though as he will be dead before then.

jstallan

Thank you for the response and for the time being I'll 'park' this one for another day and hopefully I'll come across the paperwork to support it.