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Standard life endowment
lynasjacqueline
Posts: 3
Newbie
Standard life endowment is due to mature Jan 26, it still appears on track, how likely is it to actually pay the amount it currently is projected? Anyone with recent experience?
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Comments
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Is it unit linked? If so it's at the vagaries of the markets. If it is with profits then you could check what the guaranteed payout value currently states.
I took my last unit linked endowment two months early as it had hit the target I needed to hit and with no early surrender penalties I was happy to lock the payout in.
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how likely is it to actually pay the amount it currently is projected?1) Depends on how long ago the projection was produced
2) Depends on whether it is unit linked or conventional with profits (the latter used to significantly under project and result in a better maturity)
3) depends on what happens between now and maturity.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.0 -
I’m quite surprised that these endowment mortgages still exist. Assuming a fairly standard 25 yr mortgage, that means it was sold to you around the start of 2001.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Standard Life were one of the last to pull out. 2003 was their final year IIRC. From memory the very last provider in the mainstream was SW in 2005.
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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