I have just had a letter from endowment company (think Lady GAGA)saying there has been a c*ck up and here is the letter explaining it and how we fixed it.
the maturity date is Feb 2012 and since 1990 I have been paying £13.50 a month, so £3252.50 so far. The surrender value is given as £2905. and the amount that was to be paid out in 2012 was £5000, somehow I don't think it will.
The sum assured is £1890 and the total bonus is £1600, so does that mean that the minimum that will be paid out in 2012 will be £3490?
Given that I will pay another £283.50 can I assume that I will then get back at least £3773.50?
I have just had another endowment mature this month and it was for £3100, I got back £2789 and had paid £6.98 per month for the past 22 years.
David