Policy review facility
It is important that you review your policies from time to time to ensure they still meet your current needs or still good value for money. We can do a review of all your existing plans and will advise you if we feel an alternative product would be better suited to meet your current needs. This may be because it is a cheaper regular premium, or has cheaper underlying charges or just projects a better overall investment performance.
Endowment Policy Review
If you’ve been paying into an endowment policy for years, it may be worth a review to see whether your monthly premiums and the fund value could be moved elsewhere for better results. We will firstly assess the impact of any exit penalties, the potential loss of life and health cover, tax consequences and future bonuses that may have been payable on the current arrangement.
Historically on reviewing our clients endowment policies, where it has proven best advice, some clients have successfully redirected funds from these policies to more tax efficient vehicles such as ISA's. Not only can this save c 20% of your policy growth being taxed year on year, but often it gives access to a much wider choice of funds than would have been possible within the endowment, leading to the potential of better future performance (albeit not guaranteed of course).
Let us know if you would like your policy analysed.