 |
 Endowment Check - a useful tool for IFA?s :: |
|
Rough times for IFAs
- Relationships between client and IFAs are under strain as claims of mis-selling are still rising.
- IFAs are under pressure to explain the difference between re-projection figures and a real maturity calculation.
The TEP market is on a roll, but adviser understanding of this sector is not high.
By: Brian Goldstein - Chairman of the Assosiation of Policy Market Makers.
.......... For newly-regulated advisers, it is important to understand that there is an opportunity to help deliver more money for clients' endowments should they decide to cash in their policies.
........The APMM (Association of Policy Market Makers) calculations, based on Association of British Insurers figures from 2005, show that policyholders missed out on a collective £90m in 2004alone by surrendering rather than selling their endowment policies.
.......Surrender or sell on? What is the value of a policy?
Log on to www.endowmentcheck.co.uk - it gives details about the impact of bonuses falling and rising. Use the site to establish a guide to the value of your policy.
......Given the current market conditions, and unprecedented demand for TEP's by giving endowment policyholders information and best advice on the options available to them, advisers could help them achieve a better return for their policy than ever before.
Source: Mortgage Solutions April 2007
IFAs can now take better care of their client’s endowment worries.
- Don’t just leave it to the life companies to tell your client what the future maturity might be.
Endowment Check - a useful tool for IFA’s
- Endowment Check offers IFA’s an ideal online tool to calculate the real future maturity value of endowment policies instantly based on current bonus rates.
Testimonial
Quote: “I'm an IFA and find this service useful. The last visit showed the policy on target and what could have been a complaint turned out to a happy client - she will use the website herself to track progress over the next 3 years or so to maturity.” (Recent feedback to Endowmentcheck) More Testimonials...
LATEST POLICY PERFORMANCE RESULTS REVEALED
IN THE EXCLUSIVE ENDOWMENT SURVEY CLICK HERE...
|
Endowment Facts
- 8 out of 10 endowment mortgage holders are facing a shortfall.
- The average shortfall across endowment policies is £5,000, adding up to £40bn overall.
- 6 in 10 policyholders could have been missold too.
Some life companies are accused of not handling complaints properly and refusing to pay compensation until threatened by court action. read full article
Company background
Founder and Managing Director of EndowmentCheck Ltd., Ernst Riess, has been an IFA for more than 20 years, providing Endowment Portfolio Management Services since 1990 mainly to international clients who have bought UK Traded Endowment Policies. He has been instrumental in raising the popularity of UK Traded Endowment Policies, especially in continental Europe.
Ernst Riess, Managing Director, adds:
“No investor would envisage buying a policy on the Traded Endowment Market unless he knew what the maturity value, based on current bonus rates, is going to be. It is not enough to send out bonus declarations and leaving their interpretation to the client. Investors want to know how their policies are performing and how changes in bonus rates affect the maturity of their policies”.
Underperforming policies cause great concern for policyholders and IFAs. Life Office Projection letters lack clarity and can cause even more uncertainty of what the future might hold in stock. Relationships between policyholders and their IFAs turn sour all too often because of the threat of mis-selling claims.
EC will always notify subscribers to the website of any changes in bonus rates as and when they occur, giving the policyholder the possibility to re-calculate the maturity value of his policy. This is a great way to stay in touch with our clients and there are no nasty surprises in store when it comes to maturity.
With more than 3500 up to date bonus rates from all major UK life companies, which are constantly updated, we can work out the future maturity value of a policy within seconds, making our website an essential tool for the online user.
|
| Genuine Testimonials: |
|
"After saving me £3,600 in premiums - Endowment Check proved to be a good investment."
|
|
read more...
|
|
