It is surprising how many of the with-profits plan which the life providers were describing as "family savings fund" have deteriorated in value. These policies were sold for a minimum period of 10 years and after the term the client can could cash in on the policy or in some cases part of their policy at any time. These were marketed and sold on the basis of long term savings for events to support the family - for events such as a wedding, university fees and other such matters.
The surrender values of these policies are currently worth less than if the equivalent savings amount was put away in a non-bearing interest account!
I am looking into this a little more detail and analysing the average returns for all the main providers such as Standard Life, Clerical Medical, Friends Provident, Scottish Provident, Scottish Amicable, Scottish Equitable and Prudential.
If there is any secondary information out there or if you have any further information to assist me with this then please contact me on info@easy4life.com
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