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Why Equitable Life Policy Holders Should See an IFA NOW!
By Alec McHale - Independent Financial Adviser

Those who have policies with Equitable Life are asking themselves many questions.
  • Will this situation ever be resolved?
  • Will my funds stay secure?
  • Will I lose more money?
  • Should I cut my losses and transfer?
  • Can I complain, is so who to?
There is no simple answer to any of these questions, or the myriad of questions this situation has raised. The decisions made by every policyholder will and must depend upon their individual circumstances and situation.

History has already documented the cause of this problem, and has shown actions taken by the Company, the Courts, Regulatory Bodies and some policyholders. It has also shown a little bit of the future, and what happens next!

Many of you know the problems in trying to obtain current information regarding your policies, especially if it is in the With Profits Fund. Many of you I am sure are aware of the document due to hit your door mats in the very near future, detailing the Final Compromise Deal. This is due for distribution mid-November with voting taking place during December. Who knows which way the vote will go? If the vote is for the Company will this be the end of the problem? If the vote is against the Company what will happen then?

Anybody in this situation needs to obtain advice from an Independent Financial Adviser. This adviser will work to understand your current situation, obtain information from Equitable, and ensure that he or she fully understands you requirements and fears. Once they have processed this information, they will then be in a position to advise you as to the best course of action. All this will be done without bias to, or pressure from, any other Insurance Company. If they are active in this market, they will know the problems being faced, and how to overcome them. They will be working for you, to find the best way forward for you and you alone!

You owe it to yourself to ensure that you fully understand all the implications, prior to making a decision on what you do next. Search for an IFA near you, and make an appointment now.

Alec McHale is an IFA in Worthing, West Sussex. For further information please visit his web site on www.sunrisefinancial.co.uk or email him on alecmchale@sunrisefinancial.co.uk

The Search Company Accepts no responsibility for the above article which is the opinion of the author.


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