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Comments
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The statements are sent out in May but are a historical date. Sometimes (more often than not nowadays) the values change daily in the interim. Insurers have no problem giving these figures to IFAs upon request so I cant see why they wouldnt give them to you.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 person on the other end of the telephone states that although she agrees that the values change daily, what I am asking for is too difficult to work out; however, I am to be contacted sometime this week by a totally "impartial" LegaL and General adviser who will offer assistance and advice.
I thank you for your interest dunstonh and will update you when I can.0 -
The telephone staff at the insurance companies are often rubbish and you have to tell them what they can and cannot do. L&G are one of the poorer ones when it comes to communications. They can do what you need and they do it all the time. They are probably trying to fob you off whereas they are less likely to do that with an IFA as they still rely on IFAs for the majority of their business.
I dont see how an L&G tied sales rep is going to help you as their remit doesnt allow them to recommend cancellation even when its in your interests (which it could still be and probably is. However, i just prefer having more accurate data to go by).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 -
They should be able to tell you what the current bonus rates are for you plan even if you haven't had a statment!0
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The total of basic sum assured and annual bonuses up to and including today is £22014.80, which is £3121.30 short of the surrender value (£25,136.10)
AAP haven't got back in touch so they cannot be interested; however Legal and General have stated they will put the policy up for sale using their connections.
I am under no obligation to sell or surrender.0 -
It's not guaranteed. The interest rate is subject to changes.
Effectively in this case it is guaranteed because the OP will be paying off 83% of the mortgage with the surrender value.
Changes in interest rates affecting the remaining 5k are not material.Trying to keep it simple...
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