Old Co-op whole of life insurance policy

savemymoneymate

Hello all i hope you are all keeping well.

My mother past away recently and it has come to light that she had 2 whole of life insurance policies dating back to 1977 and i remember the co-op agent coming around to collect the payment monthly.

I am aware that these policies are now managed by a company called Royal London.

My question is how is the value of these sort of policies calculated or worked out please.

Many thanks S

dunstonh

My question is how is the value of these sort of policies calculated or worked out please.

The payout, assuming it still exists, will be depend on how it was set up. Some are the higher of the sum insured or the value.   Some are the basic sum assured plus the value.

Sorry for your loss.

Jaybee_16

I have two of these old policies with the Prudential, who have changed them to 'paid up' as the premiums are no longer worth collecting.
I get an annual statement from the Pru showing me the Sum Assured, previous annual bonuses, bonus added for the last year and the total amount payable should I die in the current year.