Eagle Star wrote to me with their annual 'we have reviewed your endowment plan and advise you to increase your premium etc' letter. I replied,no thanks, not any more, its money down the drain etc. They then replied that the plan is in its final 10 years and any increases apply automatically. I said bugger off etc. I now have an endorsed policy sent to me telling me my plan is non qualifying ie subject to tax! Is this legal? Arent they cheeky b******s? What do I do? Will the Inland Revenue hit me, and if they do whats the tax anyway on a miserly few grand that the plan 'may' produce?
- posted
19 years ago