I was shocked to receive a client's maturity advice for his low-cost endowment policy.
The target maturity amount is £7,250. How dare the providers pay out only £33,126.70, leaving him a miserable profit of £25,876.70 tax-free. Why, his return is less than five
times what he needed to
repay the mortgage.
I suppose this is offset slightly by the thousands of pounds he received in windfall payment from the provider on demutualisation – but I await his complaint in trepidation.