Received letter from Standard Life owing me money?

Tony_9271

Received a letter from above company about a Life Assurance plan that was closed in 1993 when I stopped making payments. The letter states that they would like to return money ASAP (with interest) I cannot (and would not) remember even taking out a policy of this nature. The letter looks official and asks for my bank details to be returned in the freepost envelope. The only thing I can think, is that this was taken out when I got my Mortgage as it was around the time the plan was closed 'after I stopped making payments' I called the Bank/call centre for the Bank who said they can't see if it's linked to my Mortgage as it was paid off last year. I know the date for PPI has now closed but shouldn't I have been contacted sometime around 1993 or when PPI could have been claimed? I think it should have been obvious I didn't want the Policy when I stopped making payments. There's a number to call on the top of the letter but the suspicious part of me can't help wondering if it's a scam - where you call and the charges are reversed at a ridiculous rate!
Just wondering if anyone has experienced similar?  Thanks

dunstonh

The only thing I can think, is that this was taken out when I got my Mortgage as it was around the time the plan was closed 'after I stopped making payments'

Probably an endowment policy.   If you held it long enough for it to accrue a value but then stopped payments, the value accrued would remain invested.   The maturity date would typically be similar to the mortgage.

 I called the Bank/call centre for the Bank who said they can't see if it's linked to my Mortgage as it was paid off last year.

They wouldn't know.

 I know the date for PPI has now closed but shouldn't I have been contacted sometime around 1993 or when PPI could have been claimed? 

What has PPI got to do with it?  SL didnt sell PPI.

I think it should have been obvious I didn't want the Policy when I stopped making payments.

If it was that obvious, why didnt you tell them?   Lots of people have plans that they pay into monthly and then stop premiums but don't draw the money.  They are not mindreaders.

in_my_wellies

Three or four years after my husband died and I had sorted all his meticulous paper work I received what I thought was a mail shot addressed to him from Standard Life. It was just about a possible investment or something. The first communication I could remember from them in 30 years

My paperwork and organisation is not so good so I might well have thrown it in the bin after it sitting in a heap for six months but as it was addressed to him I rang the number.

They were really helpful and said the letter must have been triggered by something, they don't send random letters to named people. I was not fobbed off, they looked into it and traced it back the the late 1970's, Life Assurance, probably linked to his first house purchase and long forgotten. I sent his death certificate and got a cheque back within the week!  We could have really used that money when the children were young or when he was poorly. 

Don't ignore it - you never know.  It you aren't sure about the phone number on your letter find a number you can trust, maybe  from the internet

Tony_9271

in_my_wellies said:

Three or four years after my husband died and I had sorted all his meticulous paper work I received what I thought was a mail shot addressed to him from Standard Life. It was just about a possible investment or something. The first communication I could remember from them in 30 years

My paperwork and organisation is not so good so I might well have thrown it in the bin after it sitting in a heap for six months but as it was addressed to him I rang the number.

They were really helpful and said the letter must have been triggered by something, they don't send random letters to named people. I was not fobbed off, they looked into it and traced it back the the late 1970's, Life Assurance, probably linked to his first house purchase and long forgotten. I sent his death certificate and got a cheque back within the week!  We could have really used that money when the children were young or when he was poorly. 

Don't ignore it - you never know.  It you aren't sure about the phone number on your letter find a number you can trust, maybe  from the internet

Thank you in my wellies. My paperwork regarding my Mortgage wasn't good too! I was very young and 1993 is a long time ago! 
I just thought I was paying a Direct Debit every month for a Mortgage as I was for my Utilities etc. At some point they may have asked if I wanted to keep paying for the Life Assurance but like I say, 1993 was a long time ago! 
Such a shame, as you say you could've really used the money when your husband was poorly and your children were young. Thank you again for your advice in contacting them and that they were very helpful with you. I will give them a call tomorrow.