EssentialInvestor
15 May 2016
Re: Endownment policy payouts? Longer term I am bullish on SL., what ever the outcome of the referendum.I am increasingly of the view that a pre poll market plunge is likely to shift somevoters to the Stay camp, the longer the Stay/Leave % stays this close the morelikely that becomes.If people see the value of their investments and savings decline it may give somepause for thought on how to vote.There are multiple extremely powerful groups with a large interest in our referendum result,they will imv do what it takes to get their desired result.About 18% of SL. new business flows come from the EU area, that is from memory,would need to double check.
Eadwig
14 May 2016
Re: Endownment policy payouts? essentialinvestor, "An exit may also close off the ability to operate within the EU markets."Hmm, good point. I was thinking of buying some more on the thesis they are being pulled down by the sector but not impacted by the same issues as many. However, I don't want to gamble on the EU referendum as I think it is too close to call right now, although it looks like the REMAIN campaign are finally creaking into life and should re-open the previous gap before the vote date was given if they're half competent - and can find someone a bit better than Cameron as their main front person (his stated intention and failure to get some better deal to vote on has left him way too vulnerable and would have been laughable if it wasn't such a serious business).Does anyone know off the top of their heads revenues/profits percentages from within the EU? If no one responds I guess I'll have to have a squint at the accounts myself if I get time over the next week. It still actually isn't a free market when it comes to services is it? It doesn't mean SL wouldn't be impacted adversely by a LEAVE vote in some way or other. What a silly situation Mr Cameron has got us all into!
EssentialInvestor
14 May 2016
Re: Endownment policy payouts? The SL. SP is down so much recently as they have major exposure to the UKeconomy which may face at least some short term growth challenges on a BREXIT.An exit may also close off the ability to operate within the EU markets.If you think we will vote Stay then this SP may be attractive longer term.I would not rule out a dip sub £3, all just IMV only, DYOR as always.
JohnGeoff
14 May 2016
Re: Share price drop One small advantage of the current share price drop (which mirrors most other insurance companies e.g. Aviva) is that if it stays low for the next few weeks we will get more for our DRIP as the final dividend is due on 24 May.
Eadwig
14 May 2016
Re: Endownment policy payouts? I have a policy for £43k mortage maturing in July. My last statement in Feb predicted about £24k total payout, or around 56% of the mortage total (which was paid off years ago, of course).The mortage was definitely mis-sold as I have posted here before, my girlfriend and I were told via Nat West that the mortage would be covered and enough left over for 'the holiday of a lifetime'. Fantastic piece of selling, actually, though she couldn't have known that we were both great travellers (or could she? I borrowed from Nat West to go inter-railing in my student years).Anyway, I couldn't take obvious action against SL because after I split with the ex Ms Eadwig she emigrated and much of the paperwork was left at a sisters whose husband had died so she was in process of moving off an RAF base etc etc. Plus, difficult to get her signature on things being 6,000 miles away.The paperwork I did have did not mention anywhere in writing any kind of gaurantee the mortgage would be covered. I have often wondered if I had taken it to a professional what they would have made of the defence of no promises made in writing but only about 50% of the mortgage forecast to be paid off. I suspect that would have been grounds for negligence right there and some payment would have been offered.Meanwhile, we continue to pay our £56 quid a month - just two more of those to go I think, then I'll find out the total and have to send 50% of that abroad. Nat West/SL always refused to deal direct with 'the female' partner, despite it being made clear ownsrship, payments and responsibilities were a 50-50 split.Although I haven't had a great last 12 months or so, I will beat (and have beaten) SL's performance over the years looking after my own investments. That includes in my private pension which resided with them for a time but is now in a SIPP.Added to the above SL's shares that came my way having both an endowment and a pension can be added to the repayment, I guess, but doesn't in anyway make up for the shortfall. The law to restrict the proportion of funds held in stocks really crippled SL making any come backs with its with profits policies, and that was compounded by SL hanging on to sell until the last moment after other funds had dumped shares into the market. What a stupid over-reaction that law was. The whole point of a 25 year plan is to ride out such ups and downs, surely, not to be forced by legislation into selling at the worst time like an amateur. So, the whole situation shouldn't be completely laid at SL's door.On that subject, I'm not sure why the SL share price is so far down recently. Low interest rates plus low bond rates and low mortage rates. Luckily they're not exposed to flooding etc like other insurers. Perhaps they have just been dragged down along with the whole sector?
EssentialInvestor
04 May 2016
Re: Share price drop BREXIT weighing heavily imv.The Aberdeen update did not help, but they look different models to me.
cudntpikmynose
04 May 2016
Share price drop Other than main market dropped from high, any other reason for the massive drop in share price, if it carries on we will be back to float price
claude reins
04 May 2016
Major acquisition in Pensions Addition of business from Axa adds 160,000 customers. Should be good for HO costs spread as well as opportunities to resell other services. Despite fall in share price this year, this should be good for business.
EssentialInvestor
03 May 2016
The Fall Aberdeen(ADN) half year result look dreadful - and that is being very kind.
city brian
28 Apr 2016
Re: shareholder pay revolts they all use the same toile
tejo
28 Apr 2016
shareholder pay revolts Amongst the news about shareholder revolts over pay, in many companies, were a list of those investment groups who voted against executive salary levels and those who did not oppose them. Standard Life was amongst those supporting the excessive pay awards which seems to me a sign of weak management focus/indifference and may be indicative of the very poor share price performance of SL. Suspect new blood needed in the boardroom.
strapuk
22 Apr 2016
Re: Endownment policy payouts? Thanks batteryman, yes after crunching the numbers that was my feeling as well. I didn't bother with any mis-selling stuff. I bought the policy off a friend of mine who was a mortgage/insurance broker, and to be fair I knew back then what I was buying so didn't feel morally right to seek compo - ha, naive or what!?Once I'd switched the mortgage to repayment, the surrender value was rubbish so I just kept paying the prems and treated it as a very poorly performing savings plan. I suppose rather bizarrely the QE/ZIRP/NIRP situation became positive for the SL WP fund as it was c.50% in fixed interest! So a little victory for the small guy for a change! As I say, an "average" compound growth of 5.6% (plus I forgot about the "free" shares), isn't too shabby these days in effectively a very cautious fund, so on reflection I can't complain.Fingers crossed others have similar (or better) experiences in the coming months.
batteryman15
22 Apr 2016
Re: Endownment policy payouts? Thanks for posting the information.This means that you actually got around 74.26% of what you was hoping to get back from your policy? This is better than the "normal" 66% or so that people have been quoting recently. And you have also had your free SL shares and dividends on top, plus your endownment plan misselling compensation (if you applied to SL for this yourself?Not too bad a result overall. There is hope for my plan yet!
strapuk
22 Apr 2016
Re: Endownment policy payouts? In case anyone is interested, received confirmation letter of payout today.Endowment was for £25,000 death benefitGuaranteed Sum Assured £8125Total Annual Bonuses £4122.67Terminal Bonus £3159 (= 25.8% of GSA+AB)MEP Promise payment £3162 (which was greater than the notional upper limit stated on annual summaries of £3060)So based on the investment content of the premiums, the average rough annual growth rate was 5.6%, so I suppose I should be grateful. Overall there was a shortfall of £6430.43 for the targeted £25,000 mortgage repayment, or 25.7%.Given the WP over at least the last 5 years has been invested roughly as follows:Fixed interest 50%Property 13%UK Equities 24%Other Equities 12%a compound growth rate of 5.6% is acceptable after charges (of which of course we know nothing!)Luckily mortgage was converted to repayment and paid off years ago, so this is just savings now. Hopefully I can get a bit more than 5.6% pa going forward by investing it myself.Be interested to hear anyone's views on this.
strapuk
19 Apr 2016
Re: Endownment policy payouts? My 25 yr policy matures today! I have been told I should expect a figure that includes a Final Bonus of 25.8% of the Guaranteed Sum Assured plus Reversionary Bonuses. This excludes any payment due under the MEP - which may be zero of course! (The 25.8% figure is my calculation based on the expected payout figure they supplied). I full expect that the final sum I actually receive will be 66% of Death Benefit of £25k for my policy. That seems to have been the standard payout for the last 3 years based on posters on this BB. Very suspicious to my mind, but what can one do?!If that is correct, it would mean the MEP portion would amount to about £1,100 compared to the "between 2,040 and 3,060" figures they have continually quoted in my annual bonus notification - which of course also says I could get nothing, less than 2040 or more than 3060!! Bit pointless then isn't it stipulating figures as definitive as 2040 and 3060 in the first place!The whole sordid saga is so opaque as to be laughable.No money received as yet! Will confirm final figures when received! Oh, and they also said I won't get a letter detailing the full amount and how it was arrived at until 3 - 5 days after I receive the cash!Would never go near this crowd ever again.
