Anyone with a 25 year endowment which matured recently ?

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  • Crag30
    Crag30 Posts: 274 Forumite
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    I've one of these CIS Endowments to mature in a couple of years time, with similar premium, although sum assured was around £16,000, and I'd be happy with a similar payout.
    Forecasts for value at maturity, from years 3-5 were too good to be true
  • MallyGirl
    MallyGirl Posts: 6,626 Senior Ambassador
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    edited 14 April 2016 at 2:59PM
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    Husband's Standard life has just paid out.
    Been warning red for years but we just made alternative plans and kept it running paying £65.80 pcm.

    Most recent projection, a year ago, had it paying out £32k at 1.5% but it actually paid out £40k which was better than expected. Still somewhat sort of the £54,000 it was supposed to be aiming for but hey ho!

    I have a Phoenix Life one maturing next month - today's estimate is 36k against a target of £41,800 so again it could have been a lot worse. It still has a month to run.

    Then just a joint Scottish Widows one next January and I never have to use the word endowment ever again!!!
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  • angela110660
    angela110660 Posts: 929 Forumite
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    MallyGirl wrote: »
    Husband's Standard life has just paid out.
    Been warning red for years but we just made alternative plans and kept it running paying £65.80 pcm.

    Most recent projection, a year ago, had it paying out £32k at 1.5% but it actually paid out £40k which was better than expected. Still somewhat sort of the £54,000 it was supposed to be aiming for but hey ho!

    I have a Phoenix Life one maturing next month - today's estimate is 36k against a target of £41,800 so again it could have been a lot worse. It still has a month to run.

    Then just a joint Scottish Widows one next January and I never have to use the word endowment ever again!!!
    Thanks for the info re Standard Life. Can you say if that final figure included the MEP - Mortgage Endowment Promise? Ours due out in just over a year but nowhere near what we originally signed for sadly but like you making alternative arrangements.
  • TescoMum
    TescoMum Posts: 26 Forumite
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    When my endowment was looking like it would give me a big shortfall, I decided to remortgage to capital & interest repayment.

    I still carried on with the payments on the endowment though, it will help to knock a chunk off the mortgage at least!

    :)
    TescoMum :-)

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    If Not then Sell It!

    Even Better - Don't buy it in the First Place :-)
  • blibster
    blibster Posts: 4 Newbie
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    25 yr Std Life matured May 2016 (taken out in 1991)
    Monthly premium £71
    Original Home Loan £55,500
    Sum Assured £18,700
    Maturity value £34,200
    MEP £6,800
    Total payout £41,000

    Not too unhappy (thanks to the MEP), but still mightly pleased I paid off my home loan by other means.
  • istanbul20052016
    istanbul20052016 Posts: 5 Forumite
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    I have a Royal London ( formerly Scottish Life ) endowment due to mature in October 2016
    My monthly premiums are £78.56 over 25 years, has anybody else had a similar policy mature recently so I have a rough idea as to what to expect ? (terminal bonus etc )
    Thank you, any advise would be greatly appreciated.
  • blibster
    blibster Posts: 4 Newbie
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    Best way to find out is to give them a call and ask for the current value
  • BirnamBear
    BirnamBear Posts: 126 Forumite
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    25 year endowment taken out with Standard Life in March 1992 for £60,000.
    Have been paying £86.40 a month and in February this year got my annual statement 6 weeks before settlement saying it was worth £38,000.This did not include the MEP.
    Well it paid out on the 23rd of March and I got 51k ...not too shabby
    I was pleasantly surprised,I'm guessing there was a final bonus in there along with the MEP guarantee from Standard Life.
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  • missblogg
    missblogg Posts: 18 Forumite
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    Not too shabby indeed...Cogratulations:beer:
  • angela110660
    angela110660 Posts: 929 Forumite
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    Oooh that is fab for you! Hope it bodes well for our similar policy due out next year
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