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  • FIRST POST
    • trubligator
    • By trubligator 14th Sep 18, 4:03 PM
    • 3Posts
    • 0Thanks
    trubligator
    Avoid Legal & General
    • #1
    • 14th Sep 18, 4:03 PM
    Avoid Legal & General 14th Sep 18 at 4:03 PM
    Am having a nightmare time trying to get L&G to action my surrender request for a suite of whole-of-life policies. In contrast to Standard Life (see other post) and Scottish Widows, both of which were great and with much larger sums at stake, L&G have taken forever and been hopeless. They insisted that my trustee give consent when his only purpose is to act if my wife and I are dead. Their departments don't talk to one another so when my trustee phoned in as requested, the people he spoke wouldn't do anything because their department didn't have his details. At no point have L&G contacted me proactively since first sending a letter insisting that my trustee give consent; it's always been up to me to go through call-centre hell - which is at least preferable to messaging them online, which produces an initial auto-reply that doesn't even say who it's from and promises a full reply within 2-3 days but doesn't deliver. And about three weeks into this process which still hasn't finished, I got a call from a nice lady wanting to know if a valuation query I'd made a month before, before even starting the surrender process, had been replied to. Yes, she didn't even know if her own company had replied to me and she had no knowledge at all of all my subsequent attempted dealings!

    I will never use L&G for anything again. Ever.
Page 1
    • dunstonh
    • By dunstonh 14th Sep 18, 4:44 PM
    • 94,460 Posts
    • 62,399 Thanks
    dunstonh
    • #2
    • 14th Sep 18, 4:44 PM
    • #2
    • 14th Sep 18, 4:44 PM
    They insisted that my trustee give consent when his only purpose is to act if my wife and I are dead.
    The trustee is required where the policy is in trust. So, they are correct.

    That is not the only duty of a trustee.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • trubligator
    • By trubligator 16th Sep 18, 8:23 AM
    • 3 Posts
    • 0 Thanks
    trubligator
    • #3
    • 16th Sep 18, 8:23 AM
    • #3
    • 16th Sep 18, 8:23 AM
    The policy is not in trust!
    • AnotherJoe
    • By AnotherJoe 16th Sep 18, 8:32 AM
    • 10,552 Posts
    • 12,069 Thanks
    AnotherJoe
    • #4
    • 16th Sep 18, 8:32 AM
    • #4
    • 16th Sep 18, 8:32 AM
    The policy is not in trust!
    Originally posted by trubligator
    How then are L&G aware of the existence of a trustee ?
    • dunstonh
    • By dunstonh 16th Sep 18, 11:21 AM
    • 94,460 Posts
    • 62,399 Thanks
    dunstonh
    • #5
    • 16th Sep 18, 11:21 AM
    • #5
    • 16th Sep 18, 11:21 AM
    The policy is not in trust!
    Originally posted by trubligator
    Yet L&G seem to think it is and your own post suggests it is.

    For example:

    so when my trustee phoned in as requested,
    If its not in trust then how did a trustee phone in?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • xylophone
    • By xylophone 16th Sep 18, 11:54 AM
    • 26,478 Posts
    • 15,721 Thanks
    xylophone
    • #6
    • 16th Sep 18, 11:54 AM
    • #6
    • 16th Sep 18, 11:54 AM
    I am having difficulty in understanding what is going on here.

    You speak of "your" trustee.

    Do you mean that you (and or your spouse) are the beneficiaries of a Trust?

    Or do you mean that your will creates a Trust and you have named a Trustee? Similarly your wife?

    If the above is the case, then indeed he has no duties to perform until you are dead.

    With regard to the L&G policy, can you explain why L&G think the policy was written in trust when you have stated categorically that it isn't?
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