Phoenix Life Endowment Statement

KnightInd2000

This may be a long shot, but has anyone got a current Endowment Policy with Phoenix Life and received their end of 2017 statement yet?
I rang them last Weds 13th and they said it should be arriving any day because they were all sent out on Friday 8th June.
Still nothing has arrived so I'm trying to work out if they were lying to me or mine has got lost in the post. (even 2nd class post should be less than 2 weeks!)

(getting twitchy because it matures 31/08/18 and I'm trying to get on top of my finances)
Thanks

dunstonh

This may be a long shot, but has anyone got a current Endowment Policy with Phoenix Life and received their end of 2017 statement yet?

Phoenix is a company that buys up dead and unwanted insurance company books. Over the long term it looks to consolidate those books onto as few systems as possible. This can take decades. So, many of the books it has bought still operate out of their original address using the same processes they did under the old company.

So, when you say Phoenix, you really need to be saying which Pheonix (i.e. the old company). e..g ex Pearl, ex Britannic etc.

I have had several bits of mail over the last few months from ex Pearl group plans (Peterborough office) and the post hasnt arrived until at least 10 days after they dated the letter and that was about a week after they said the letter had been produced.

Statements are not normally issued as a single batch. They are produced in advance and then posted in batches over a period of a few weeks. The telephone staff usually wont have a clue when the statement was actually posted. Best they normally get is a ballpark period.

KnightInd2000

Thanks for your reply dunstonh
I'm sure it was originally with Royal Life and then Royal & Sun Alliance before Phoenix took it over.

KnightInd2000

My annual statement arrived today (30 June 2018)
The letter was dated 5 June 2018.
That's some slow post!

KnightInd2000

For those that might be interested, a summary of said statement is as follows...
Maturity Date = 31/08/2018
Monthly premium = £55.42
Target amount = £40,350

As of 31/12/17;
Projection based on -0.50% growth = £31,700
Projection based on 2.50% growth = £32,800
Projection based on 5.50% growth = £34,000

I've not seen any mention of an MEP (Mortgage Endowment Promise) on any of my statements so I'm assuming not all companies offer one? Maybe they work things out differently?