Royal London Endowment Policy

shaneybaby55

Hi people, I have read some of these boards over a period of time, I have a Royal London with profits policy, and looked into cashing it in/selling it. With the information from these boards I contacted APMM, my policy is only a small one but was looking to better the cash surrender value, as every little counts.

Royal London
My Cash Surrender Value is £3247.75 (assumed date of last premium paid 12.06.2007)
Sum Assured is £3132.00
Bonus up to 31 December 2006 £1105.86
Current Death Value £4546.10
Premium £13 Monthly
Start Date 15/07/1991
Maturity Date 15/07/2011

Projected Maturity Value:
Lower £4550 based on future rate of return 4%
Middle £4710 based on future rate of return 6%
Higher £4920 based on future rate of return 8%

I know we cannot predict the future but I think I would be lucky to hit the lower figure of £4550 if I were to keep this policy, or have things changed?

1st Policy came back and stated they could not increase the Cash Surrender Value

PolicyPlus came back and stated they could, yet when I phoned, and gave some details they informed me that as I had paid on the doorstep up until 2002 when I started paying by direct debit (this was around the time Royal London I believe Royal London started Direct Debit payments, or am I wrong?) My policy is classed as an industrial branch policy? Anybody heard of this?

Today I received a letter from Neville James with a their valuation of £4015, this company I believe finds a buyer, if this is the case then how can they give a valuation, it also to me seems a very good offer, to good to be true as I was only hoping for a couple of hundred pounds better than the Cash Surrender Value.

Has anyone dealt with this company if so what were your experiences, also what must I be careful of selling a policy like this, all advice or people points of view would be very welcome.

JoeK_3

Take care as the company have only estimated what the policy could be worth.

Neville James will not be buying the policy off you.

It looks like the policy is doing OK and will hit it's target anyway.

Why sell?

JoeK

EdInvestor

What interest rate are you paying on your mortgage?

shaneybaby55

I have not got it linked to a mortgage. I just thought that if I have 4 years left on it which means paying another £624, and it only hits the lower end value, if it hits that at all, then the money might be put to better use.
If I do not get a decent offer I might just leave it to run

EdInvestor

To find out how the RL WP fund is likely to perform, you need to know how it is invested.

Ring them up and ask what percentage of the fund is in risk assets (equities and property) compared with the percentage in cash and bonds.

shaneybaby55

Did contact RL this morning and was informed they are not sure what percentage goes where, she also stated that no one in the office/call centre wherever she was, would not know either, I mean should they know for sure what percentage is where?
She did explain that part was secure money for the life cover and part was invested in different places this was her best explanation

EdInvestor

Have a look at your last bonus statement, the investment details should be there.Then ring up again and ask if they have changed since that date.

Don't be put off, this may be a comparatively uncommon query at RL, but it is something they should be able to tell you.