Standard Life Endowment

glastowinebar

Is there anyone else out there with a Standard Life Endowment Policy? if so how is it doing? I took mine out in 1993 and it matures in November 2010 and it's well under target.

dunstonh

I took mine out in 1993 and it matures in November 2010 and it's well under target.

Are you sure. With most Standard Life with profit endowments not including terminal bonus and mortgage promise values in the projections and performing better than the projection rates currently, you may not be as bad as you think.

It doesnt matter what anyone elses policy does. You cannot compare yours to theirs as we dont know yours (or theirs) target growth rates. Which version you are in (different versions were issued over the years. Some versions had multiple options).

Being only a 17 year endowment, I wouldnt be confident of hitting target as it typically takes over 20 years but you may not be as bad as you think.

glastowinebar

I've had a letter to say that the low growth rate (4%) is £44,500 intermediate (6%) is £46,900 and high growth rate (8%) would be £49,300

Thats with bonuses

My target figure was £54,500 (this figure is however guaranteed on death....not that that is much good to me!)

As I may have mentioned on another thread, the SL woman on the phone told me to expect the low growth rate...of even less that 4%!

I pay above the odds because its 17 years...£159 per month

dunstonh

As I may have mentioned on another thread, the SL woman on the phone told me to expect the low growth rate...of even less that 4%!

I would take that with a pinch of salt. Indeed, if it was recorded and listened to by the FSA, they wouldnt be happy with a unqualified call centre telephonist offering such opinions.

Standard Life have been outperforming that 4% (averaging about 7% p.a. from about the time of you plan).

Did she tell you what the mortgage promise value was and what the final bonus was?

EdInvestor

We've already been through this before.

http://forums.moneysavingexpert.com/showthread.html?t=593340

If you want a view on the policy, you need to post the relevant info.

glastowinebar

I'm sorry Edinvestor I didn't see your other reply. I'll try harder!

the.weekender

Edinvestor
Not sure if you can assist me,

Minimum Cost plan joint endowment 1991 20 year
Guaranteed SA 32,000
Dec Bonus 6,417 (to Feb 07)
Surrender Value 18,010 (current) 16,309 basic + 1,700 final bonus
Maturity date March 2011
Maturity forecasts 3.75%= 22,600, 5.50% = 23,800, 7.25%= 25,100 (current)
Interest on mortgage 6.25% (20,000 outstanding)
Mortgage Promise 22, 000 ?

Many thanks in Anticipation

EdInvestor

Hello the.weekender

Please post your monthly endowment premium.I assume this is also a Standard life policy?

dunstonh

You will need to phone them to verify the mortgage promise value. They will give you two values as a range it can fall between.

You should also ask the current final bonus that applies to the plan.

the.weekender

Edinvestor
Sorry for the delay, I have been away for a couple of days. The policy is £73.96 per month, and yes it is with Standard Life.

dunstonh

and what was the mortgage promise value and final bonus accrued to date?

Without those, any calculation will be wrong.