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Endowment Policy Final Figure advised 6 months in advance
Edwina_Clough
Posts: 11 Forumite
I received a letter in May advising me of the final figure for a policy due to mature in November? Is this the norm? How can they calculate it so far in advance? I thought it was all based on the stock market and finally will the remaining, future 6 months payments have been taken into account?
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Comments
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Is this the norm?
Only for conventional with profits plans. It is not possible with unit linked or unitised with profits plans.
Are you sure that the figure they have issued is guaranteed and not a projection using the regulator controlled assumptions?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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