Endowment/Life Assurance Maturity Problems

Imma_Number

sgn wrote: »

In pursuit of proof the insurers had proof they had sent the Original to the Solicitor I rang the insurers. The person I spoke to quickly pointed out that: with some policies they would absolutely require the Original, BUT ... with ours, the Copy would be acceptable :T

:jExcellent.

sgn wrote: »

But it's not over till it's over, or in this case, the money hits the bank account. It's supposed to do this just before Christmas, ironically! :snow_grin

I'll keep my fingers crossed.

wacko321

hi, our policy with friends provident matured a few weeks ago. friends provident didnt contact us about the policy maturing, we had to phone them. we stopped paying into the plan some years ago but did not cash it in. we have now been sent a form entitled " cashing in of policy value" which they want us to sign and return. however the amount they are quoting is thousands of pounds less than we had been keeping track of as the value and the amount we should and expected to be paid now the policy has matured, and we have taken everything into account. it all seems very suspicious as i have said we are not cashing in the policy, the policy has matured so why send us a form giving the amount on a cashing the policy in basis. has anyone had any experience with anything like this or could advise us in any way. we would be very grateful. its just not right especially as friends provident has performed better than so many others over the years and is now rated in the top 3 because of this. any advice would be gratefully received as we dont know if it would be a mistake to just sign and return the form on the basis that they are being totally honest as to how they arrived at such a low pay out and the fact that there is no breakdown of any sort ( after years and years of letters from them ), it just doesnt seem right at all. help:eek:

TrickyDicky101

You made the policy 'paid up' when you stopped paying the premiums. Depending n when you stopped and how long the original policy was due to last, this could have a significant impact on your eventual proceeds.

Care to share the figures? Original term, premium, when exactly you stopped paying premiums, what ultimate value Friends Life have now advised you, basic sum assured, original target amount etc

dunstonh

When you made the policy paid up, did you cancel the life assurance or was it left to continue with premiums deducted from the fund value?