will i be stitched up by Royal London

lucadobe

Our endowment was taken out in 1990, on a mortgage of £36,550. A few years back we changed to a repayment and kept the endowment for a little profit because yes we were told we would get a huge return of over £130,000 anyhow.. Our concern is our annual statements which state ' they may also pay a final bonus at maturity and any finalbonus is not guaranteed and depends on future profits, they claim also that the 25 yr morgages will not have as good return as the 10yr one's and we feel RL are copping out.
policy date 01/07/1990
maturity 01/07/2015
previous annual bonuses £12,025.66
total guaranteed value £30,037.27
previous annual bonuses 2003-7 £89.61
we have had no endowment plan update since 2005 which was
4% projected amount £33,800 targeted amount £36,500
5% £36,100
8% £44,200

dunstonh

Whats your question?

lucadobe

Is RL right to state the comments i have enclosed regarding out final payout

U've_been_framed

It looks like a fairly standard statement for an endowment policy to me. Whether you were missold the policy is another question; as is - is it a worthwhile investment?

EdInvestor

Ring them up and get an updated guaranteed value, surrender value and set of forecasts so we can take a look at whether it's worth keeping.Please also post the interest rate payable on your mortgage.

This endowment looks to have a very high guaranteed value so may well be worth keeping, depending on what surrender value they are offering.

dunstonh

I think you will find that RL are not actually giving any advice or opinon but just providing a warning.

Final bonuses from an historic point of view are low but have been slowly increasing again in recent years. However, they are highly unlikely to ever reflect those paid 10-20 years ago.