The long wait is over, and just after Easter, Standard Life policyholders should receive their demutualization voting pack, and with it, some idea of what's available, by way of a share out!
Anyone thinking of surrendering or selling their policy should at least wait until the details are known.
I bought my endowment back in 1989. I remember asking the question 'what will happen if this doesn't mature to the full amount' and being told, 'don't worry about that, every bank and building society will be bust if that happens'. With my Standard Life endowment now worth less than half what it was promised to deliver, I don't see many insolvent banks about. I am certainly hoping that demutualisation can allow me to recoup some of the losses. At the rate it's going at the moment, I'd have been better off it I had paid 35 per month into a building society account for 25 years.
At the rate it's going at the moment, I'd have been better off it I had paid £35 per month into a building society account for 25 years.
If only the idiots had demutualised a few years ago we'd all have been a bit better off.
I'll be getting rid of my low-cost endowment as soon as I've got the shares.
I think the reversionary bonus rate this year was 0.5%.
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