Cashable life insurance

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nygel

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Post by nygel » Mon Aug 03, 2020 5:31 am
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Asking for a friend.
My friends IVA was completed 2017.
She has a cashable Norwich Supersaver life insurance due to mature 2030. The cash in value 30/7/20 is approx 10k. The IVA company were aware of this policy.
If she was to cash this policy in 2020 or at fruition in 2030. Would the IVA have any comeback on this
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Foggy

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Post by Foggy » Mon Aug 03, 2020 8:36 am
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I would have thought not, but I would advise she seeks qualified advice, as well as looking through her old proposal documents to see exactly what, if anything, was said about this policy.

I doubt the IP would even become aware.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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nygel

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Post by nygel » Fri Aug 07, 2020 6:24 am
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Thanks for the response Foggy.
We have requested the encashment of the insurance policy.
I'll let the Forum know the outcome...
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