Endowment payout

[crankedup]

I know that I can use lots of outlets in an attempt to find an answer to this but here go'es anyhow.

Have just recieved notification on my payout sum, I can follow and tot up my bouses over the last 20 years and agree with the sums there.The area I'm miffed about is that the final bonus addition has been lumped in with a sum of money which was ringfenced for the benifit of policyholders at a time of takeover. I do not know how much of each sum I have earned because the Company state "it is to complicated' I do not know if I am disadvantaged by being asked effectively by the insurance Company to 'trust them'.

What are your thoughts? should customers be advised of all the facts?

[jacobyte]

Has it reached its target? If so, then don't worry about it, but if not then you should be allowed to see all the details in case they've cocked up.

[rpguk]

crankedup said:

I know that I can use lots of outlets in an attempt to find an answer to this but here go'es anyhow.

Have just recieved notification on my payout sum, I can follow and tot up my bouses over the last 20 years and agree with the sums there.The area I'm miffed about is that the final bonus addition has been lumped in with a sum of money which was ringfenced for the benifit of policyholders at a time of takeover. I do not know how much of each sum I have earned because the Company state "it is to complicated' I do not know if I am disadvantaged by being asked effectively by the insurance Company to 'trust them'.

What are your thoughts? should customers be advised of all the facts?

"too complicated"? Sounds like crap to me. I'd give them another chance to explain and then ask the FSA for advice.

[tigger1]

Too complicated? Aren't they bound by FSA rules to make sure that you fully understand how each amount has been derived?

[crankedup]

The endowment just missed its target by a couple of thousand pounds, this sum included the final bonus and ringfenced sum. I feel that the Company pay so called financial experts from poilcy owners such as myself and that I should be at least offered a full and factual report on the final sum being paid. I shall seek assistance.

[JohnP68]

Might also be worth reading their latest bonus declaration and any published bonus philosophy/policy (if you feel that way inclined!). For example, Standard Life publish quite a lot of info on their with profits at

http://uk.standardlife.com/content/policy/withprof...

Your insurer might also publish this sort of thing, hopefully in a relatively readable form!