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endownment(1983) how do i know what i will get?
Comments
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Phoenix endowments are often zombies and need monitoring, however this one sounds OK. Who was the original provider? Does the endowment benefit from tax relief (LAPR)?Trying to keep it simple...
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It should get LAPR given the start date.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
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The terminal bonus is the biggest one.
That used to be the case and may still be the case with this one.
But many policies have very small TBs these days compared with a few years ago when the TB often made up half the total value of the policy, or even more.
Some Phoenix policies have no TB at all. Trying to keep it simple...0 -
But many policies have very small TBs these days compared with a few years ago when the TB often made up half the total value of the policy, or even more. Some Phoenix policies have no TB at all.
Whilst it is the case with many zombie funds, there are plenty of plans where the TBs have been increasing very nicely although they are never going to return to the old days when the economy was boom/bust and high inflation. However, its better to have low inflation and steadiness and lower terminal bonuses than the old way.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 -
EdInvestor wrote: »Phoenix endowments are often zombies and need monitoring, however this one sounds OK. Who was the original provider? Does the endowment benefit from tax relief (LAPR)?
original provider was: Royal Life
then: royal insurance
then:royal and sun alliance
then Phoenix
what is LAPR? and how do i know if i have got it? is this it
the original documents say
life assured-mrxxxxx and missxxxx
bonus rate: a compound bonus of £4.70 % calculated on the base sum assured and on bonuses previously declared and attaching
PLUS
a super bonus of £3.50 %calculated on bonuses previously declared and attaching0 -
[[guaranteed sum assured
declared bonuses
terminal bonus]]
i phoned up and got my figures...........i will post them but the 2007 bonus's haven't been declared yet.0
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