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Surrender of endowment
JayF72
Posts: 3 Newbie
I am in the fortunate position that whilst my endowment with Scottish Widows overall is not returning the amount covered by the life assurance attached to it, I have claimed under mis-sold endowment and received a tidy sum back.
However, my question is as follows: I track the performance of the fund on an irregular basis and, despite the Brexit, has achieved the highest bid price since I took it out over 20 years ago.
If I were to surrender the policy today based on yesterday's excellent bid price, I can only surrender based on tomorrow's bid price but I have no way of knowing what that bid price is until the markets have closed and, of course, this could be lower or higher than yesterday.
I hope this all makes sense.
Does anybody have any idea how to get round this?
However, my question is as follows: I track the performance of the fund on an irregular basis and, despite the Brexit, has achieved the highest bid price since I took it out over 20 years ago.
If I were to surrender the policy today based on yesterday's excellent bid price, I can only surrender based on tomorrow's bid price but I have no way of knowing what that bid price is until the markets have closed and, of course, this could be lower or higher than yesterday.
I hope this all makes sense.
Does anybody have any idea how to get round this?
0
Comments
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You dont get around it. You accept the price you are given.
The funds are not live priced. They are priced once a day (and often a day behind in the case of life funds). They will transact your sale request the next dealing point after the instruction is received.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 -
Thanks. That's what I thought. Just a few points off the bid price, however, could leave you worse off (or better)!0
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