Standard Life Endowment Problem

EdInvestor

That's right Shorty,

Only people holding With-profits policies will be eleigible for a bonus and the TEP traders don't buy unit-linked policies.

What funds is your policy invested in?

If it's not performing well, switching to another fund (or 2) may be a better idea than surrendering, depending on what you plan to do with the money.

Shorty

The fund name on the documentation states "Life with profits fund". Apologies if I'm a bit vague being a builder finance matters are not my strong point.
Thanks

EdInvestor

Shorty

Life With profits fund


This suggests you are a member of Standard life and will be eligible for a DM bonus.:)Did you get voting papers for the recent Annual general meeting, that would be a sign?

You may have what they call a "unitised With profits endowment" which doesn't have a guaranteed sum assured.THese can't be sold.But these policies are not the same as "unit-linked" policies - the latter are not invested in With-profits.

Don't surrender the policy before the demutualisation next year. And if you're not sure about your membership, ring them up and ask.

Shorty

Yes I did receive voting papers. I will call them to check. Thank you very much for your help.

dunstonh

Also, as a Standard Life with profits member, you have probably read that Standard life will now give information on terminal bonuses to IFAs which they wouldnt in the past. Before you make up your mind, you should get this information. Failure to do so could mean you kissing good bye to amount that can range from zero to many thousands of pounds.

EdInvestor

Shorty, suggest you get a surrender value for your policy when you call up on the membership and also ask how much of the value is made up of terminal bonus.

It's very unlikely there will be any left, but worth asking (and worth seeing if they will tell you, as there have been complaints over this!).

ReportInvestor

I think they'll still only give those details to IFAs, Editor, but I agree it's worth nagging away at them to widen such disclosures, in the public interest.

EdInvestor

Sadly, I suspect there will be no details to give.It's very unlikely Shorty will have any TB left: a year ago 15-year maturing policies were paying out only a miserable 3.8% TB, according to Money Management magazine, and his policy is younger.

I can imagine why they have this rule - to some members the news will come as a great shock, and the staff at the call centres would no doubt be in for an earful. Hardly fair to expect them to put up with that, however understable an angry reaction is from the policyholder point of view - the losses are certainly not the call centre staff 's fault.

Compensationitis

http://www.ifasok.co.uk/Downloads/STLMaturity.pdf

Work this one out, no TB?

What is going on?

dunstonh

Compensationitis wrote:

http://www.ifasok.co.uk/Downloads/STLMaturity.pdf

Work this one out, no TB?

What is going on?

I'm not sure that is the right information. The projected maturity value, AFAIA, wouldnt have the TB on it. It is the breakdown of the bonuses that should.

Usually, those printouts are about 4-5 pages long. Did it appear on one of the other pages?