A
aaa
Guest
I read that it could take up to 2 years. my 25 year policy matures this summer. does that mean i'll miss out on any windfall.
Brendan Burgess
Founder
- Messages
- 52,324
I don't know if you can extend such a policy or not.
But, the surrender value of such policies has been declining every year for the past few years. You might lose more than you gain.
Brendan
But, the surrender value of such policies has been declining every year for the past few years. You might lose more than you gain.
Brendan
D
Dogbert
Guest
Standard Life
I gather from the UK papers that Standard Life have offered a refund of money to any customer who has invested in their with-profit fund since November 2003 (the beginning of their current financial year) - not sure if it was a voluntary step or whether it was forced into it by the FSA.
Anyone know whether the same option is being offered to Standard's Irish customers, and if not, why not ?
I gather from the UK papers that Standard Life have offered a refund of money to any customer who has invested in their with-profit fund since November 2003 (the beginning of their current financial year) - not sure if it was a voluntary step or whether it was forced into it by the FSA.
Anyone know whether the same option is being offered to Standard's Irish customers, and if not, why not ?
R
RAIPI
Guest
Standard Life
That's a good question, Dogbert. I've been very disappointed that the coverage here so far, including here on AAM, seems limited only to the issue of demutualisation and hasn't dealt with the very significant difficulties Standard is facing.
It seems to me that an adviser would be nuts to place business with an organisation which has:
* fired its CEO,
* suspended trading in its subordinated debt,
* been forced to offer refunds to recent customers,
* been subjected to an independent review by the regulator of its financial reporting and management.
What sort of "reasons why" letter do advisers think would satisfy an IFSRA enquiry as to why business was given to Standard Life unless the current issues are satisfactorily resolved. Yet there has been no discussion of this.
In the UK, in contrast, there has been plenty of coverage. For example,
That's a good question, Dogbert. I've been very disappointed that the coverage here so far, including here on AAM, seems limited only to the issue of demutualisation and hasn't dealt with the very significant difficulties Standard is facing.
It seems to me that an adviser would be nuts to place business with an organisation which has:
* fired its CEO,
* suspended trading in its subordinated debt,
* been forced to offer refunds to recent customers,
* been subjected to an independent review by the regulator of its financial reporting and management.
What sort of "reasons why" letter do advisers think would satisfy an IFSRA enquiry as to why business was given to Standard Life unless the current issues are satisfactorily resolved. Yet there has been no discussion of this.
In the UK, in contrast, there has been plenty of coverage. For example,
K
Kinsale
Guest
Standard Life
Are now applying new charges to all With Profit policies.
The charges are to apply to all new and existing policies and range from 0.25% to 0.75%.
Are now applying new charges to all With Profit policies.
The charges are to apply to all new and existing policies and range from 0.25% to 0.75%.
K
Karen Mc Dougal
Guest
Standard Life
The Following is a current list of articles that can be found on [broken link removed]
Standard Life to consider demutualisation
Standard Life chief executive Lumsden steps down
Standard Life Bank unlikely to be affected
WP policyholders will get windfalls, says Cizdyn
FSA to launch independent review of Standard Life
Standard will be better off as a plc say Wentworth Rose
Cazalet warns Standard listing will be no cash windfall
IFAs say Lumsden had to go
Standard says financial position stronger than last year
No impact on current surrender values
Standard won't talk about mutual benefits
Standard Life refuses to comment on UBS floatation plan claims
Cazalet predicts Standard bonus cuts and curtailing of new business
Standard Life says announcement coming tomorrow
Wait before recommending Standard says Wentworth Rose
Standard carpetbagger describes latest development as worrying
Media reports of Standard problems exaggerated - Reid
Cazalet says Standard talks reflect concerns
No crisis says Standard
FSA likely to be in talks with other life offices says AKG
Analyst plays down question over Standard solvency
No reason to panic over Standard's solvency says McPhail
FSA in talks with Standard over financial strength
Standard shock charges stun IFAs
Standard may need to sell loan and healthcare arms
Standard sparks questions over value of rating agencies
The Following is a current list of articles that can be found on [broken link removed]
Standard Life to consider demutualisation
Standard Life chief executive Lumsden steps down
Standard Life Bank unlikely to be affected
WP policyholders will get windfalls, says Cizdyn
FSA to launch independent review of Standard Life
Standard will be better off as a plc say Wentworth Rose
Cazalet warns Standard listing will be no cash windfall
IFAs say Lumsden had to go
Standard says financial position stronger than last year
No impact on current surrender values
Standard won't talk about mutual benefits
Standard Life refuses to comment on UBS floatation plan claims
Cazalet predicts Standard bonus cuts and curtailing of new business
Standard Life says announcement coming tomorrow
Wait before recommending Standard says Wentworth Rose
Standard carpetbagger describes latest development as worrying
Media reports of Standard problems exaggerated - Reid
Cazalet says Standard talks reflect concerns
No crisis says Standard
FSA likely to be in talks with other life offices says AKG
Analyst plays down question over Standard solvency
No reason to panic over Standard's solvency says McPhail
FSA in talks with Standard over financial strength
Standard shock charges stun IFAs
Standard may need to sell loan and healthcare arms
Standard sparks questions over value of rating agencies
R
RAIPI
Guest
At Last
someone on this side of the Irish Sea has noticed - Bill Tyson and John Geraghty in today's Indo.
Rory O'Riordan (Standard's Irish CEO) didn't sound too convincing in some of his comments, I thought. They haven't decided yet whether or not they'll be offering recent Irish investors a refund, as is the case in the UK, because
Existing investors probably shouldn't get out, but, as posted above, I can't see any reason why new ones should want to get in. Standard sold itself on mutuality, consequent low charges, and financial strength. The first two are gone by the board, and the third is now very questionable. Stay away until the picture is clearer.
someone on this side of the Irish Sea has noticed - Bill Tyson and John Geraghty in today's Indo.
Rory O'Riordan (Standard's Irish CEO) didn't sound too convincing in some of his comments, I thought. They haven't decided yet whether or not they'll be offering recent Irish investors a refund, as is the case in the UK, because
Are we supposed to believe that no-one in Standard Life Ireland knew what was going on in Standard Life UK?? And if so, is that supposed to reassure us?? There's too much "trust us, we're still as strong as we ever were" in a lot of what they're saying.
Existing investors probably shouldn't get out, but, as posted above, I can't see any reason why new ones should want to get in. Standard sold itself on mutuality, consequent low charges, and financial strength. The first two are gone by the board, and the third is now very questionable. Stay away until the picture is clearer.
A
<A HREF=http://pub145.ezboard.com/baskaboutmoney.s
Guest
Re: At Last
Sounds 'ELlishly familiar... :|
Sounds 'ELlishly familiar... :|
D
Dogbert
Guest
Standard Life
Isn't this the kind of issue IFSRA should be getting involved in, rather than telling us to shop around for car insurance. Surely no-one can argue that Standard's Irish customers are entitled to any less than their UK customers, and if Standard won't offer that themselves, then the regulator should step in in the consumer's interest.
Isn't this the kind of issue IFSRA should be getting involved in, rather than telling us to shop around for car insurance. Surely no-one can argue that Standard's Irish customers are entitled to any less than their UK customers, and if Standard won't offer that themselves, then the regulator should step in in the consumer's interest.
A
Ageonite
Guest
THE KEY QUESTION
Take it as read that any IFA with a brain isn't going to recommend SL's UWP anymore - not until the waters clear if ever. The KEY QUESTION is whether those in the UWP fund should get out even taking the MVA hit? That's the €64m question. Any advices?
Take it as read that any IFA with a brain isn't going to recommend SL's UWP anymore - not until the waters clear if ever. The KEY QUESTION is whether those in the UWP fund should get out even taking the MVA hit? That's the €64m question. Any advices?
S
Sober One
Guest
Standard Life's unique algebra
Standard Life knows the monkeys in their ROI branch are well capable of dealing with their Irish proliteriate investors and have obviously decided not to tell them anything. To me this only cements the mutual feeling that since the enquiry they have become even more complacent and arrogant.
It amazes me that the regulator (IFSRA) appears to operating as nothing more than a sluicegate.
Standard Life knows the monkeys in their ROI branch are well capable of dealing with their Irish proliteriate investors and have obviously decided not to tell them anything. To me this only cements the mutual feeling that since the enquiry they have become even more complacent and arrogant.
It amazes me that the regulator (IFSRA) appears to operating as nothing more than a sluicegate.