Endowment policy Question

fitzmum

Hi - I split with my ex partner (quite amicably) 10 years ago and we had joint endowment policies on the house we were in. I left ( and basically left him to get on with it!!) but have not signed anything (myself) to surrender the policies.

Just recently I have spoken to him through a mutual friend and enquired as to what happened to the policies as I never signed anything over to him or signed anything to surrender them.

He says ( and I beileve him) that he thinks they were surrendered when he bought a new house for himself about 9 years ago and he isn't paying anything towards them now.

Surely though, to surrender them I would have had to sign something? Its got me thinking that theres some money out there with our names on it!!

Any ideas anyone?

turbobob

Yes to surrender a joint life endowment policy (that was legally owned by both of you) then it would require both of your signatures. This is because you both own the benefits.

When were the policies taken out roughly?

Pobby

Agreed with the above poster.Just done it and both my wife and I had to sign.

fitzmum

turbobob wrote: »

Yes to surrender a joint life endowment policy (that was legally owned by both of you) then it would require both of your signatures. This is because you both own the benefits.

When were the policies taken out roughly?

Hi, the first was taken out in 1990 and the second about 1994 - 1995

I'm at a loss at he reckons they just got chewed up?? when he remortgaged when he bought his own place. He's certainly not paying anything towards them now. Would it be worth us chasing them up in case they are still there?

EdInvestor

Perhaps he made them "paid up", so he no longer contributed any premiums? This might have happened automatically if he stopped paying.This will mean they pay out less at maturity.Definitely worth chasing up and ascertaining status.

fitzmum

Hi - thanks for your replies

I know that one was for 30k with Friends Provident but i'm not sure about the other - for the amount of who it was with even

To be honest it was such a long time ago I can't honestly remember if we even took out another when we moved or whether we had repayment on the rest ( I can only remember the Friends Provident one) - is there some sort of policy tracing service I can use?

Thanks

Fitzmum

Dick_here

fitzmum wrote: »

Hi - I split with my ex partner (quite amicably) 10 years ago and we had joint endowment policies on the house we were in. I left ( and basically left him to get on with it!!)

I'd hate to split non-amicably with you then !

fitzmum

:rotfl: Hey, he got to keep everything so he didn't do badly at all!!