Scottish Provident With Profit Plan

The above was discussed here last year and in particular whether one should cash in or hold to maturity.

In my own case I have a plan that I took out in 1991 with a 28 year term. My question is if I cashed in now would I get any of the terminal bonus or just the annual bonus?

Also in general what are peoples view on these policies 12 months on?

Thanks


Bedlam

Bedlam said:

My question is if I cashed in now would I get any of the terminal bonus or just the annual bonus?

Click to expand...

Do the terms & conditions of your policy document not clarify?

Just curious - why did you take out such a policy on a 28 year term? Seems odd...

If you wanted to liquidate this policy would selling it on be an option?

Hi Clubman,

I cannot find the policy document and I have tried Scottish Provident on two occassions and I am still waiting for them to get back to me.

28 term I have no recollection as to why I did it for this term.

I tried TEPCO to sell the policy they were not interested.

Do you have any thoughts on whether I should cash in or leave well alone to maturity

Hi Bedlam

I had one of these with a 20 yr term, matching my mortgage term. I cashed it out in 1998, 8 years early. I received an offer from Scottish Provident which I bettered by selling it to a broker. I wish I'd kept it til 2006 but I needed the money in 1998/9. I can PM you the broker's name if you want. He was dead on and straight up.

You will not get the terminal bonus but a valuation at time of encashment. Whoever the broker sells it to gets the full value at maturity.

Slim

Slim

You might PM the Brokers contact details to me please

Thanks

Bedlam