market value research reduction

nicbra

Hi,

Not sure if I am in the right place but my sister had a portfolio bond with Norwich and Peterborough and invested 20,000 pounds in to it, she then surrendered the policy which had a penalty clause of £906, which she was fully aware of. However she had £2608.00 in total due to Market Value Research. To be honest I dont think that she really knew what this was for, however now wonders whether she can claim this back? Does anyboy know what Market Value research is for and what it means in this capacity? Can she claim it back?

What makes this situation a little complicated is that she is now a discharged BR. Does this mean that she can not claim it back.

Any advice would be greatly appreciated

Thanks in advance.

dunstonh

Market Value Research.

Market Value Reduction.

Does anyboy know what Market Value research is for and what it means in this capacity?

Its a valid charge which is levied when the underlying assets in the investment are less than the value of the investment and the insurer feels there is a need to protect other policyholders from those that are exiting early. NU do make a point of making it clear in their documentation that it exists and always have done with the portfolio bond (not so much with earlier products though).

Can she claim it back?

Her investment suffered a loss because she chose to withdraw it early. Her choice she suffered the charge. So, she cannot claim it back.