Scottish Widows

rosegirl36

I am trying to surrender my endowment with Scottish Widows,it is a necessity as my partner and me are separating.I wrote to them and they told me to put it in writing and make sure it was signed and bank details were provided.However 2 weeks later i have heard nothing back.Is this normal? i have emailed twice, tried phoning but havent got time to wait an hour to make contact with a human

highet

doesnt surprise me with Scottish Widows - had a unit linked endowment mature with them earlier this year - made sure all the appropriate paperwork was with them at least a month before maturity date and it still took them 6 weeks after the maturity date to actually put proceeds into my bank account!! and that was after several chasing phone calls and a formal complaint which result in a cheque for compensation for their !!!! service

dunstonh

However 2 weeks later i have heard nothing back.Is this normal?

Normally surrenders on old life plans take 2-4 weeks. Scottish Widows would likely be at the longer end as they are slow on admin.

rosegirl36

another concern i have is that being linked to the stock market, the value could drop significantly, compared with what the value is now

MallyGirl

Scottish Widows are awful. We have a joint endowment maturing next month. First they sent the tiniest envelope ever for the return of the massive policy doc. Then I had a letter saying that my signature didn't match. Well that isn't a surprise as I formally notified them of marriage 16 years ago and supplied marriage certificate at the time, plus signed a load of forms, to get the name on the policy changed. I had to take a letter to a Lloyds bank for them to witness my current signature - but the letter made no mention of taking lots of ID if not a Lloyds customer. Luckily I had something on me that was accepted. No idea when we will get the money - which will obviously be somewhat short of the desired final value touted when we took it out.