Standard Life cuts bonuses again
Thursday, February 2nd, 2006Holders of Standard Life endowment policies have been dealt a fresh blow with news that the insurer is to cut its with-profits payouts by up to 18%.
Holders of Standard Life endowment policies have been dealt a fresh blow with news that the insurer is to cut its with-profits payouts by up to 18%.
Endowment policies may rise in value thanks to a new wave of overseas investors, says a leading traded endowment company.
Norwich Union has announced details of its 2006 bonus rates and payouts, and holders of maturing endowment policies will be disappointed to see their payouts cut.
Guardian Assurance plc / Guardian Linked Life Assurance Ltd have been fined £750,000 by the FSA over serious flaws in its endowment complaints handling processes, leading to a review of 5,600 complaint rejections.
Friends Provident has announced that it is to increase payouts on some of its endowment policies, saying that improved stock market performance has allowed it to improve its final bonuses on maturing policies.