Scottish Amicable Endowment - Payment Of Further Bonus

thebull

sO how many people in here fancy a legal fight ? or is it dead in the water before it starts

Thermoman

thebull wrote: »

sO how many people in here fancy a legal fight ? or is it dead in the water before it starts

Has any one here already tried to get MSE interested in this?

I sent an email just over a week ago but heard nothing back as yet.

Froggitt

Has anyone an email or a letter from Pru saying where this money has gone? Anyone whose policy has recently matured should be able to get them to answer this.

Thermoman

[FONT=&quot]Hi ,[/FONT]
[FONT=&quot]My policy matured last month and in February I received the valuation letter. As some of you here are already aware it does not mention the ‘Further Bonus’. I therefore telephoned and asked for a breakdown of the terminal bonus to see whether it also included the Further Bonus.[/FONT]
[FONT=&quot]After several attempts by telephone and the Prudential secure email system - I felt that this question was not being understood - let alone answered correctly and I therefore sent a letter of complaint .[/FONT]
[FONT=&quot]Below I enclose the relevant sections from the two letters in reply to my query as to the ‘Further Bonus’[/FONT]


[FONT=&quot]Letter 1:[/FONT]
[FONT=&quot]“[/FONT][FONT=&quot]The re[/FONT][FONT=&quot]s[/FONT][FONT=&quot]idual [/FONT][FONT=&quot]Sc[/FONT][FONT=&quot]otti[/FONT][FONT=&quot]s[/FONT][FONT=&quot]h Ami[/FONT][FONT=&quot]ca[/FONT][FONT=&quot]ble [/FONT][FONT=&quot]es[/FONT][FONT=&quot]t[/FONT][FONT=&quot]a[/FONT][FONT=&quot]te [/FONT][FONT=&quot]o[/FONT][FONT=&quot]f £5[/FONT][FONT=&quot]3[/FONT][FONT=&quot]0 mi[/FONT][FONT=&quot]l[/FONT][FONT=&quot]lion r[/FONT][FONT=&quot]e[/FONT][FONT=&quot]m[/FONT][FONT=&quot]a[/FONT][FONT=&quot]in[/FONT][FONT=&quot]e[/FONT][FONT=&quot]d invested in th[/FONT][FONT=&quot]e S[/FONT][FONT=&quot]c[/FONT][FONT=&quot]o[/FONT][FONT=&quot]t[/FONT][FONT=&quot]t[/FONT][FONT=&quot]i[/FONT][FONT=&quot]s[/FONT][FONT=&quot]h [/FONT][FONT=&quot]A[/FONT][FONT=&quot]mi[/FONT][FONT=&quot]c[/FONT][FONT=&quot]able I[/FONT][FONT=&quot]ns[/FONT][FONT=&quot]uranc[/FONT][FONT=&quot]e [/FONT][FONT=&quot]Fund ([/FONT][FONT=&quot]S[/FONT][FONT=&quot]AIF[/FONT][FONT=&quot]) a[/FONT][FONT=&quot]nd b[/FONT][FONT=&quot]eca[/FONT][FONT=&quot]m[/FONT][FONT=&quot]e [/FONT][FONT=&quot]an inte[/FONT][FONT=&quot]g[/FONT][FONT=&quot]r[/FONT][FONT=&quot]a[/FONT][FONT=&quot]l [/FONT][FONT=&quot]par[/FONT][FONT=&quot]t [/FONT][FONT=&quot]of [/FONT][FONT=&quot]the fund[/FONT][FONT=&quot]. [/FONT][FONT=&quot]It ha[/FONT][FONT=&quot]s [/FONT][FONT=&quot]not b[/FONT][FONT=&quot]ee[/FONT][FONT=&quot]n [/FONT][FONT=&quot]acco[/FONT][FONT=&quot]u[/FONT][FONT=&quot]n[/FONT][FONT=&quot]t[/FONT][FONT=&quot]e[/FONT][FONT=&quot]d f[/FONT][FONT=&quot]o[/FONT][FONT=&quot]r [/FONT][FONT=&quot]se[/FONT][FONT=&quot]p[/FONT][FONT=&quot]a[/FONT][FONT=&quot]r[/FONT][FONT=&quot]ate[/FONT][FONT=&quot]l[/FONT][FONT=&quot]y. [/FONT][FONT=&quot]T[/FONT][FONT=&quot]herefore it [/FONT][FONT=&quot]i[/FONT][FONT=&quot]s [/FONT][FONT=&quot]n[/FONT][FONT=&quot]ot po[/FONT][FONT=&quot]ss[/FONT][FONT=&quot]ibl[/FONT][FONT=&quot]e[/FONT][FONT=&quot] t[/FONT][FONT=&quot]o s[/FONT][FONT=&quot]h[/FONT][FONT=&quot]ow t[/FONT][FONT=&quot]h[/FONT][FONT=&quot]e furthe[/FONT][FONT=&quot]r [/FONT][FONT=&quot]b[/FONT][FONT=&quot]o[/FONT][FONT=&quot]nu[/FONT][FONT=&quot]s[/FONT][FONT=&quot]es (m[/FONT][FONT=&quot]e[/FONT][FONT=&quot]nti[/FONT][FONT=&quot]oned in the[/FONT][FONT=&quot] 15 Oc[/FONT][FONT=&quot]t[/FONT][FONT=&quot]o[/FONT][FONT=&quot]b[/FONT][FONT=&quot]e[/FONT][FONT=&quot]r [/FONT][FONT=&quot]- [/FONT][FONT=&quot]1[/FONT][FONT=&quot]9[/FONT][FONT=&quot]97 [/FONT][FONT=&quot]p[/FONT][FONT=&quot]o[/FONT][FONT=&quot]lic[/FONT][FONT=&quot]y[/FONT][FONT=&quot]h[/FONT][FONT=&quot]o[/FONT][FONT=&quot]ld[/FONT][FONT=&quot]er ci[/FONT][FONT=&quot]r[/FONT][FONT=&quot]c[/FONT][FONT=&quot]ul[/FONT][FONT=&quot]ar) [/FONT][FONT=&quot]t[/FONT][FONT=&quot]hat [/FONT][FONT=&quot]you[/FONT][FONT=&quot]r po[/FONT][FONT=&quot]li[/FONT][FONT=&quot]cy [/FONT][FONT=&quot]h[/FONT][FONT=&quot]as ear[/FONT][FONT=&quot]n[/FONT][FONT=&quot]e[/FONT][FONT=&quot]d b[/FONT][FONT=&quot]y t[/FONT][FONT=&quot]hi[/FONT][FONT=&quot]s [/FONT][FONT=&quot]element [/FONT][FONT=&quot]o[/FONT][FONT=&quot]f th[/FONT][FONT=&quot]e [/FONT][FONT=&quot]fund[/FONT][FONT=&quot]. [/FONT][FONT=&quot]Ho[/FONT][FONT=&quot]w[/FONT][FONT=&quot]e[/FONT][FONT=&quot]ve[/FONT][FONT=&quot]r[/FONT][FONT=&quot], [/FONT][FONT=&quot]w[/FONT][FONT=&quot]e ca[/FONT][FONT=&quot]n t[/FONT][FONT=&quot]e[/FONT][FONT=&quot]ll [/FONT][FONT=&quot]y[/FONT][FONT=&quot]ou th[/FONT][FONT=&quot]a[/FONT][FONT=&quot]t p[/FONT][FONT=&quot]o[/FONT][FONT=&quot]li[/FONT][FONT=&quot]cy[/FONT][FONT=&quot]hold[/FONT][FONT=&quot]er [/FONT][FONT=&quot]b[/FONT][FONT=&quot]e[/FONT][FONT=&quot]n[/FONT][FONT=&quot]e[/FONT][FONT=&quot]f[/FONT][FONT=&quot]i[/FONT][FONT=&quot]t[/FONT][FONT=&quot]s [/FONT][FONT=&quot]h[/FONT][FONT=&quot]av[/FONT][FONT=&quot]e [/FONT][FONT=&quot]bee[/FONT][FONT=&quot]n [/FONT][FONT=&quot]a[/FONT][FONT=&quot]pp[/FONT][FONT=&quot]r[/FONT][FONT=&quot]o[/FONT][FONT=&quot]x[/FONT][FONT=&quot]i[/FONT][FONT=&quot]m[/FONT][FONT=&quot]a[/FONT][FONT=&quot]t[/FONT][FONT=&quot]e[/FONT][FONT=&quot]l[/FONT][FONT=&quot]y [/FONT][FONT=&quot]5[/FONT][FONT=&quot]% [/FONT][FONT=&quot]mo[/FONT][FONT=&quot]re [/FONT][FONT=&quot]th[/FONT][FONT=&quot]a[/FONT][FONT=&quot]n t[/FONT][FONT=&quot]hey [/FONT][FONT=&quot]w[/FONT][FONT=&quot]ou[/FONT][FONT=&quot]l[/FONT][FONT=&quot]d have bee[/FONT][FONT=&quot]n [/FONT][FONT=&quot]had [/FONT][FONT=&quot]d[/FONT][FONT=&quot]e[/FONT][FONT=&quot]mutu[/FONT][FONT=&quot]a[/FONT][FONT=&quot]li[/FONT][FONT=&quot]sa[/FONT][FONT=&quot]ti[/FONT][FONT=&quot]on no[/FONT][FONT=&quot]t [/FONT][FONT=&quot]go[/FONT][FONT=&quot]n[/FONT][FONT=&quot]e ahe[/FONT][FONT=&quot]a[/FONT][FONT=&quot]d[/FONT][FONT=&quot].“[/FONT]

[FONT=&quot]Letter 2:[/FONT]
[FONT=&quot]“..the means of distributing the [/FONT][FONT=&quot]e[/FONT][FONT=&quot]stat[/FONT][FONT=&quot]e [/FONT][FONT=&quot]was by two methods[/FONT][FONT=&quot]. [/FONT][FONT=&quot]First[/FONT][FONT=&quot]l[/FONT][FONT=&quot]y, a [/FONT][FONT=&quot]s[/FONT][FONT=&quot]pec[/FONT][FONT=&quot]i[/FONT][FONT=&quot]a[/FONT][FONT=&quot]l [/FONT][FONT=&quot]bonus wa[/FONT][FONT=&quot]s [/FONT][FONT=&quot]paid in October 1997 and adde[/FONT][FONT=&quot]d [/FONT][FONT=&quot]to all elig[/FONT][FONT=&quot]i[/FONT][FONT=&quot]ble pol[/FONT][FONT=&quot]i[/FONT][FONT=&quot]cie[/FONT][FONT=&quot]s. [/FONT][FONT=&quot]Secondly, termin[/FONT][FONT=&quot]a[/FONT][FONT=&quot]l bonus rates would be improved so that the overa[/FONT][FONT=&quot]ll [/FONT][FONT=&quot]effect, from the[/FONT][FONT=&quot]s[/FONT][FONT=&quot]e [/FONT][FONT=&quot]t[/FONT][FONT=&quot]wo method[/FONT][FONT=&quot]s[/FONT][FONT=&quot], on [/FONT][FONT=&quot]a [/FONT][FONT=&quot]matur[/FONT][FONT=&quot]i[/FONT][FONT=&quot]ng pol[/FONT][FONT=&quot]i[/FONT][FONT=&quot]cy would improve fina[/FONT][FONT=&quot]l [/FONT][FONT=&quot]benefit[/FONT][FONT=&quot]s [/FONT][FONT=&quot]by appro[/FONT][FONT=&quot]x[/FONT][FONT=&quot]imately 8[/FONT][FONT=&quot].[/FONT][FONT=&quot]5[/FONT][FONT=&quot]%. [/FONT]
[FONT=&quot]There wa[/FONT][FONT=&quot]s [/FONT][FONT=&quot]nev[/FONT][FONT=&quot]e[/FONT][FONT=&quot]r an intention to pay an [/FONT][FONT=&quot]i[/FONT][FONT=&quot]dentifiable lump sum as a further bonu[/FONT][FONT=&quot]s[/FONT][FONT=&quot], therefore it is not po[/FONT][FONT=&quot]s[/FONT][FONT=&quot]sible to prov[/FONT][FONT=&quot]id[/FONT][FONT=&quot]e you with a succinct form[/FONT][FONT=&quot]ul[/FONT][FONT=&quot]a for the process by w[/FONT][FONT=&quot]h[/FONT][FONT=&quot]ic[/FONT][FONT=&quot]h f[/FONT][FONT=&quot]ina[/FONT][FONT=&quot]l [/FONT][FONT=&quot]bene[/FONT][FONT=&quot]f[/FONT][FONT=&quot]it[/FONT][FONT=&quot]s [/FONT][FONT=&quot]have been enh[/FONT][FONT=&quot]a[/FONT][FONT=&quot]nced[/FONT][FONT=&quot]. [/FONT]
[FONT=&quot]The process described ha[/FONT][FONT=&quot]s [/FONT][FONT=&quot]been fo[/FONT][FONT=&quot]l[/FONT][FONT=&quot]lowe[/FONT][FONT=&quot]d [/FONT][FONT=&quot]and I can confirm t[/FONT][FONT=&quot]h[/FONT][FONT=&quot]at the be[/FONT][FONT=&quot]n[/FONT][FONT=&quot]e[/FONT][FONT=&quot]fits avai[/FONT][FONT=&quot]l[/FONT][FONT=&quot]able from your pol[/FONT][FONT=&quot]i[/FONT][FONT=&quot]cy are higher than they would have been had t[/FONT][FONT=&quot]h[/FONT][FONT=&quot]e merger not proceeded[/FONT][FONT=&quot]. [/FONT][FONT=&quot]The maturity va[/FONT][FONT=&quot]l[/FONT][FONT=&quot]u[/FONT][FONT=&quot]e [/FONT][FONT=&quot]wi[/FONT][FONT=&quot]l[/FONT][FONT=&quot]l not be incre[/FONT][FONT=&quot]as[/FONT][FONT=&quot]ed therefore [/FONT][FONT=&quot]I [/FONT][FONT=&quot]would encourage yo[/FONT][FONT=&quot]u [/FONT][FONT=&quot]to return the [/FONT][FONT=&quot]c[/FONT][FONT=&quot]ompl[/FONT][FONT=&quot]e[/FONT][FONT=&quot]ted payment form[/FONT][FONT=&quot]. [/FONT][FONT=&quot]Comp[/FONT][FONT=&quot]l[/FONT][FONT=&quot]eting the form wi[/FONT][FONT=&quot]l[/FONT][FONT=&quot]l not prejudice your compla[/FONT][FONT=&quot]i[/FONT][FONT=&quot]nt [/FONT][FONT=&quot]in any way[/FONT][FONT=&quot]. “



Any thoughts on the above?
[/FONT]

Froggitt

Im interested in how a regular Pru endowment has performed over the same period......ie how much they are paying out in comparison to a ScotAm ploicy.

Thermoman

Hi,

I'm not able to post a link so search the pruadviser.co.uk website for BDMS0027.pdf

This contains the terminal bonus rates for Scottish Amicable endowments.

I'm not presently able to locate a similar one for Prudential.

Photonic

Thermoman wrote: »

[FONT=&quot]Letter 1:[/FONT]
[FONT=&quot]“[/FONT][FONT=&quot]The re[/FONT][FONT=&quot]s[/FONT][FONT=&quot]idual [/FONT][FONT=&quot]Sc[/FONT][FONT=&quot]otti[/FONT][FONT=&quot]s[/FONT][FONT=&quot]h Ami[/FONT][FONT=&quot]ca[/FONT][FONT=&quot]ble [/FONT][FONT=&quot]es[/FONT][FONT=&quot]t[/FONT][FONT=&quot]a[/FONT][FONT=&quot]te [/FONT][FONT=&quot]o[/FONT][FONT=&quot]f £5[/FONT][FONT=&quot]3[/FONT][FONT=&quot]0 mi[/FONT][FONT=&quot]l[/FONT][FONT=&quot]lion r[/FONT][FONT=&quot]e[/FONT][FONT=&quot]m[/FONT][FONT=&quot]a[/FONT][FONT=&quot]in[/FONT][FONT=&quot]e[/FONT][FONT=&quot]d invested in th[/FONT][FONT=&quot]e S[/FONT][FONT=&quot]c[/FONT][FONT=&quot]o[/FONT][FONT=&quot]t[/FONT][FONT=&quot]t[/FONT][FONT=&quot]i[/FONT][FONT=&quot]s[/FONT][FONT=&quot]h [/FONT][FONT=&quot]A[/FONT][FONT=&quot]mi[/FONT][FONT=&quot]c[/FONT][FONT=&quot]able I[/FONT][FONT=&quot]ns[/FONT][FONT=&quot]uranc[/FONT][FONT=&quot]e [/FONT][FONT=&quot]Fund ([/FONT][FONT=&quot]S[/FONT][FONT=&quot]AIF[/FONT][FONT=&quot]) a[/FONT][FONT=&quot]nd b[/FONT][FONT=&quot]eca[/FONT][FONT=&quot]m[/FONT][FONT=&quot]e [/FONT][FONT=&quot]an inte[/FONT][FONT=&quot]g[/FONT][FONT=&quot]r[/FONT][FONT=&quot]a[/FONT][FONT=&quot]l [/FONT][FONT=&quot]par[/FONT][FONT=&quot]t [/FONT][FONT=&quot]of [/FONT][FONT=&quot]the fund[/FONT][FONT=&quot]. [/FONT][FONT=&quot]It ha[/FONT][FONT=&quot]s [/FONT][FONT=&quot]not b[/FONT][FONT=&quot]ee[/FONT][FONT=&quot]n [/FONT][FONT=&quot]acco[/FONT][FONT=&quot]u[/FONT][FONT=&quot]n[/FONT][FONT=&quot]t[/FONT][FONT=&quot]e[/FONT][FONT=&quot]d f[/FONT][FONT=&quot]o[/FONT][FONT=&quot]r [/FONT][FONT=&quot]se[/FONT][FONT=&quot]p[/FONT][FONT=&quot]a[/FONT][FONT=&quot]r[/FONT][FONT=&quot]ate[/FONT][FONT=&quot]l[/FONT][FONT=&quot]y. [/FONT][FONT=&quot]T[/FONT][FONT=&quot]herefore it [/FONT][FONT=&quot]i[/FONT][FONT=&quot]s [/FONT][FONT=&quot]n[/FONT][FONT=&quot]ot po[/FONT][FONT=&quot]ss[/FONT][FONT=&quot]ibl[/FONT][FONT=&quot]e[/FONT][FONT=&quot] t[/FONT][FONT=&quot]o s[/FONT][FONT=&quot]h[/FONT][FONT=&quot]ow t[/FONT][FONT=&quot]h[/FONT][FONT=&quot]e furthe[/FONT][FONT=&quot]r [/FONT][FONT=&quot]b[/FONT][FONT=&quot]o[/FONT][FONT=&quot]nu[/FONT][FONT=&quot]s[/FONT][FONT=&quot]es (m[/FONT][FONT=&quot]e[/FONT][FONT=&quot]nti[/FONT][FONT=&quot]oned in the[/FONT][FONT=&quot] 15 Oc[/FONT][FONT=&quot]t[/FONT][FONT=&quot]o[/FONT][FONT=&quot]b[/FONT][FONT=&quot]e[/FONT][FONT=&quot]r [/FONT][FONT=&quot]- [/FONT][FONT=&quot]1[/FONT][FONT=&quot]9[/FONT][FONT=&quot]97 [/FONT][FONT=&quot]p[/FONT][FONT=&quot]o[/FONT][FONT=&quot]lic[/FONT][FONT=&quot]y[/FONT][FONT=&quot]h[/FONT][FONT=&quot]o[/FONT][FONT=&quot]ld[/FONT][FONT=&quot]er ci[/FONT][FONT=&quot]r[/FONT][FONT=&quot]c[/FONT][FONT=&quot]ul[/FONT][FONT=&quot]ar) [/FONT][FONT=&quot]t[/FONT][FONT=&quot]hat [/FONT][FONT=&quot]you[/FONT][FONT=&quot]r po[/FONT][FONT=&quot]li[/FONT][FONT=&quot]cy [/FONT][FONT=&quot]h[/FONT][FONT=&quot]as ear[/FONT][FONT=&quot]n[/FONT][FONT=&quot]e[/FONT][FONT=&quot]d b[/FONT][FONT=&quot]y t[/FONT][FONT=&quot]hi[/FONT][FONT=&quot]s [/FONT][FONT=&quot]element [/FONT][FONT=&quot]o[/FONT][FONT=&quot]f th[/FONT][FONT=&quot]e [/FONT][FONT=&quot]fund[/FONT][FONT=&quot]. [/FONT][FONT=&quot]Ho[/FONT][FONT=&quot]w[/FONT][FONT=&quot]e[/FONT][FONT=&quot]ve[/FONT][FONT=&quot]r[/FONT][FONT=&quot], [/FONT][FONT=&quot]w[/FONT][FONT=&quot]e ca[/FONT][FONT=&quot]n t[/FONT][FONT=&quot]e[/FONT][FONT=&quot]ll [/FONT][FONT=&quot]y[/FONT][FONT=&quot]ou th[/FONT][FONT=&quot]a[/FONT][FONT=&quot]t p[/FONT][FONT=&quot]o[/FONT][FONT=&quot]li[/FONT][FONT=&quot]cy[/FONT][FONT=&quot]hold[/FONT][FONT=&quot]er [/FONT][FONT=&quot]b[/FONT][FONT=&quot]e[/FONT][FONT=&quot]n[/FONT][FONT=&quot]e[/FONT][FONT=&quot]f[/FONT][FONT=&quot]i[/FONT][FONT=&quot]t[/FONT][FONT=&quot]s [/FONT][FONT=&quot]h[/FONT][FONT=&quot]av[/FONT][FONT=&quot]e [/FONT][FONT=&quot]bee[/FONT][FONT=&quot]n [/FONT][FONT=&quot]a[/FONT][FONT=&quot]pp[/FONT][FONT=&quot]r[/FONT][FONT=&quot]o[/FONT][FONT=&quot]x[/FONT][FONT=&quot]i[/FONT][FONT=&quot]m[/FONT][FONT=&quot]a[/FONT][FONT=&quot]t[/FONT][FONT=&quot]e[/FONT][FONT=&quot]l[/FONT][FONT=&quot]y [/FONT][FONT=&quot]5[/FONT][FONT=&quot]% [/FONT][FONT=&quot]mo[/FONT][FONT=&quot]re [/FONT][FONT=&quot]th[/FONT][FONT=&quot]a[/FONT][FONT=&quot]n t[/FONT][FONT=&quot]hey [/FONT][FONT=&quot]w[/FONT][FONT=&quot]ou[/FONT][FONT=&quot]l[/FONT][FONT=&quot]d have bee[/FONT][FONT=&quot]n [/FONT][FONT=&quot]had [/FONT][FONT=&quot]d[/FONT][FONT=&quot]e[/FONT][FONT=&quot]mutu[/FONT][FONT=&quot]a[/FONT][FONT=&quot]li[/FONT][FONT=&quot]sa[/FONT][FONT=&quot]ti[/FONT][FONT=&quot]on no[/FONT][FONT=&quot]t [/FONT][FONT=&quot]go[/FONT][FONT=&quot]n[/FONT][FONT=&quot]e ahe[/FONT][FONT=&quot]a[/FONT][FONT=&quot]d[/FONT][FONT=&quot].“[/FONT]

[FONT=&quot]Letter 2:[/FONT]
[FONT=&quot]“..the means of distributing the [/FONT][FONT=&quot]e[/FONT][FONT=&quot]stat[/FONT][FONT=&quot]e [/FONT][FONT=&quot]was by two methods[/FONT][FONT=&quot]. [/FONT][FONT=&quot]First[/FONT][FONT=&quot]l[/FONT][FONT=&quot]y, a [/FONT][FONT=&quot]s[/FONT][FONT=&quot]pec[/FONT][FONT=&quot]i[/FONT][FONT=&quot]a[/FONT][FONT=&quot]l [/FONT][FONT=&quot]bonus wa[/FONT][FONT=&quot]s [/FONT][FONT=&quot]paid in October 1997 and adde[/FONT][FONT=&quot]d [/FONT][FONT=&quot]to all elig[/FONT][FONT=&quot]i[/FONT][FONT=&quot]ble pol[/FONT][FONT=&quot]i[/FONT][FONT=&quot]cie[/FONT][FONT=&quot]s. [/FONT][FONT=&quot]Secondly, termin[/FONT][FONT=&quot]a[/FONT][FONT=&quot]l bonus rates would be improved so that the overa[/FONT][FONT=&quot]ll [/FONT][FONT=&quot]effect, from the[/FONT][FONT=&quot]s[/FONT][FONT=&quot]e [/FONT][FONT=&quot]t[/FONT][FONT=&quot]wo method[/FONT][FONT=&quot]s[/FONT][FONT=&quot], on [/FONT][FONT=&quot]a [/FONT][FONT=&quot]matur[/FONT][FONT=&quot]i[/FONT][FONT=&quot]ng pol[/FONT][FONT=&quot]i[/FONT][FONT=&quot]cy would improve fina[/FONT][FONT=&quot]l [/FONT][FONT=&quot]benefit[/FONT][FONT=&quot]s [/FONT][FONT=&quot]by appro[/FONT][FONT=&quot]x[/FONT][FONT=&quot]imately 8[/FONT][FONT=&quot].[/FONT][FONT=&quot]5[/FONT][FONT=&quot]%. [/FONT]
[FONT=&quot]There wa[/FONT][FONT=&quot]s [/FONT][FONT=&quot]nev[/FONT][FONT=&quot]e[/FONT][FONT=&quot]r an intention to pay an [/FONT][FONT=&quot]i[/FONT][FONT=&quot]dentifiable lump sum as a further bonu[/FONT][FONT=&quot]s[/FONT][FONT=&quot], therefore it is not po[/FONT][FONT=&quot]s[/FONT][FONT=&quot]sible to prov[/FONT][FONT=&quot]id[/FONT][FONT=&quot]e you with a succinct form[/FONT][FONT=&quot]ul[/FONT][FONT=&quot]a for the process by w[/FONT][FONT=&quot]h[/FONT][FONT=&quot]ic[/FONT][FONT=&quot]h f[/FONT][FONT=&quot]ina[/FONT][FONT=&quot]l [/FONT][FONT=&quot]bene[/FONT][FONT=&quot]f[/FONT][FONT=&quot]it[/FONT][FONT=&quot]s [/FONT][FONT=&quot]have been enh[/FONT][FONT=&quot]a[/FONT][FONT=&quot]nced[/FONT][FONT=&quot]. [/FONT]
[FONT=&quot]The process described ha[/FONT][FONT=&quot]s [/FONT][FONT=&quot]been fo[/FONT][FONT=&quot]l[/FONT][FONT=&quot]lowe[/FONT][FONT=&quot]d [/FONT][FONT=&quot]and I can confirm t[/FONT][FONT=&quot]h[/FONT][FONT=&quot]at the be[/FONT][FONT=&quot]n[/FONT][FONT=&quot]e[/FONT][FONT=&quot]fits avai[/FONT][FONT=&quot]l[/FONT][FONT=&quot]able from your pol[/FONT][FONT=&quot]i[/FONT][FONT=&quot]cy are higher than they would have been had t[/FONT][FONT=&quot]h[/FONT][FONT=&quot]e merger not proceeded[/FONT][FONT=&quot]. [/FONT][FONT=&quot]The maturity va[/FONT][FONT=&quot]l[/FONT][FONT=&quot]u[/FONT][FONT=&quot]e [/FONT][FONT=&quot]wi[/FONT][FONT=&quot]l[/FONT][FONT=&quot]l not be incre[/FONT][FONT=&quot]as[/FONT][FONT=&quot]ed therefore [/FONT][FONT=&quot]I [/FONT][FONT=&quot]would encourage yo[/FONT][FONT=&quot]u [/FONT][FONT=&quot]to return the [/FONT][FONT=&quot]c[/FONT][FONT=&quot]ompl[/FONT][FONT=&quot]e[/FONT][FONT=&quot]ted payment form[/FONT][FONT=&quot]. [/FONT][FONT=&quot]Comp[/FONT][FONT=&quot]l[/FONT][FONT=&quot]eting the form wi[/FONT][FONT=&quot]l[/FONT][FONT=&quot]l not prejudice your compla[/FONT][FONT=&quot]i[/FONT][FONT=&quot]nt [/FONT][FONT=&quot]in any way[/FONT][FONT=&quot]. “[/FONT]

[FONT=&quot]Any thoughts on the above?[/FONT]

My policy matured this month. But I have been seeking, in advance, clarification to the addition of the” further bonuses”. I can confirm the reply received was word for word the same as that received in the Letter 1. To that end I have replied and questioned if the “final bonuses” are included in the maturity value final bonus rate. Letter 2 would appear to answer that in the affirmative. Thus I now expect to receive that reply, word for word.
Personally, I felt and understood that as the “Final Bonuses” were always projected along with the Special Bonus and Cash payment in the merger proposals there was an intention to pay it out as identifiable lump sum when added to the Terminal Bonus at the policy maturing and could be identifiable as a share of the £530m fund.
In my opinion it is not possible for Prudential to estimate a percentage benefit to the policy final cash sum being higher than they would have been had the merger not proceeded. This assumes the Scottish Amicable would have been same or less beneficial in their fund investments – and no one can evaluate that what couldn’t occur, but only surmise.
When returning the Maturity Payment Form, the release clause “I accept that payment of the sum payable by Prudential as instructed by me above will be full and final discharge of your liability under this policy” may be scored or, better still blanked, out before signing and returning. The policy monies will still be paid out – I can only say that because of my experience. I didn’t feel I should receive my monies with conditions applied. Especially with so many concerns unexplained.

Froggitt

Heres an interesting page........ http://www.pruadviser.co.uk/content/acrobat/BONUS_DEC_2011_PR.PDF

Contract Policy duration
in 2011 (2010)
Premium Surrender
Value
2010
Maturity
Value
2011
% *
Change

Prudential
Mortgage
Endowment
(25 year term)
25 years
(24 years)
£50
per month
£31,995 £35,837 10.0

Scottish Amicable
Mortgage
Endowment
(25 year term)
25 years
(24 years)
£50
per month
£33,404 £38,156 12.3

Thermoman

Thanks for the link Froggit.

So it is apparent that Scot Am endowments have fared better - although they may have had a better starting point pre takeover I suppose.

We're still mulling over our response to the letters we have received.

If the terminal bonus does include the further bonus then why the Pru couldn't have done a mailshot to all Scot Am policy holders to explain this is beyond me.

I'm pretty sure we've kept all the correspondence and I've not come across anything like this.

Froggitt

although they may have had a better starting point pre takeover I suppose.

Wasnt a takeover rationale that the fund was weak and couldnt provide as good returns without Pru?