# Royal Liver withs profits policy: unsure whether to keep it?



## lizabeth (22 Nov 2006)

While I now know that withs profits polices are not the best option, however, am between 2 minds as to whether I’ll bow out now and cut my losses or stay in and see what happens. I still have a term of 10 ish years to complete! Am I wasting my money for next 10 yrs??????

Anyone else who has similar policy with RL might share your opinions - are ye gonna keep it and see what the terminal bonus produces?

Here are the details:

Royal Liver With Profits Endownment Savings, 
Term17 yrs, started May 2000
Payment: €63.50 pm
Sum assured: €11,565 plus whatever bonus
Interest rates poor: 
2000&2001...2.5%......2002..2%.....2003..1.75%.......2004&2005..1.25%

Oct 06 - Surrender value : €4255.88 (loss of €540 own funds plus bonus €1200).


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## idemacg (27 Nov 2006)

Ours is the same policy over 15 years. We have three taken out in 1996 and totalling €231 per month contributions. Promised payout is circa €40,000 in 2011 but as I have already said in my reply to you the policies for over 60's is not worth keeping according to advice we have got.
idemacg


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## lizabeth (27 Nov 2006)

"policy for over 60's" - you mean if we were aged 60 or over. If so we're not - are you saying that if under 60, might be okay to risk. Not sure what you mean here.

Looking at yours - 231 x 12mths x 15 yrs =41,621. Yet your sum assured is 40K. Does that worry you? That's the part that was bothering me in my policy - what is your logic for holding your policy? Thanks


* Read your other post after posting this - yip I see now.


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## upport (10 Dec 2006)

I would keep paying the premium in anticipation of terminal bonus and possible privatisation windfall.I dont think its possible to set up a RL with profits policy in Ireland now,therefore I would be reluctant to cancel an existing one.


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## RainyDay (10 Dec 2006)

upport said:


> I would keep paying the premium in anticipation of terminal bonus and possible privatisation windfall.I dont think its possible to set up a RL with profits policy in Ireland now,therefore I would be reluctant to cancel an existing one.


I wouldn't include any possible windfall in the decision making process, as the chances of this happening are slim to none. There were indications in previous discussions here on AAM that RL sales persons were using this as a sales technique. The fact that you can't set up a with-profits policy now has absolutely nothing to do with whether the policy is good value or not.


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## mula (13 Dec 2006)

lizabeth said:


> While I now know that withs profits polices are not the best option, however, am between 2 minds as to whether I’ll bow out now and cut my losses or stay in and see what happens. I still have a term of 10 ish years to complete! Am I wasting my money for next 10 yrs??????
> 
> Anyone else who has similar policy with RL might share your opinions - are ye gonna keep it and see what the terminal bonus produces?
> 
> ...


 

have you a pension?


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## lizabeth (29 Dec 2006)

Yes, Ive got pension - occupational one


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