Thanks, but no thanks – why throw good money after bad?Posted: August 5, 2010
Some companies are cheeky, but a mailshot from my endowment policy provider really takes the biscuit!
This is the company that now “manages” a policy that will probably fall short by about one third in the final payout it once promised. Sold to me in the 1980s, this endowment should have paid off half of my original domestic mortgage, and even promised an extra return thanks to the large terminal bonus that would be paid. But my annual statements in recent years have seen no terminal bonuses awarded. Instead, I have had warning letters telling me that this particular savings plan will come up short.
Now, the tinkers have sent me an invitation to get involved in another savings scheme, this time for 10 years. I don’t think so.