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Acorn Life Savings Plan

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  • 23-03-2009 9:30pm
    #1
    Jimbo
    Closed Accounts Posts: 2,379 ✭✭✭


    Does anyone know how Acorn Lifes savings plans are performing lately?
    I understand they lost some value in recent months.
    I'm midway into a 10 year savings plan but I'm wondering if I should pull out before I loose anymore money.
    I intend on ringing them but I want the have the facts before they try to fill me with marketing BS.


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    #2
    [Deleted User]
    Posts: 281 ✭✭ [Deleted User]


    I would ask for :

    i) the current fund value
    ii) the total premiums paid
    iii) a list of the charges applying to the policy
    iv) the asset mix of the fund/s invested in
    v) the term of the plan (I doubt it is specifically for 10 years)

    Do you have a plan for the fund, if you cash it in?


  • Options
    #3
    broker2008
    Registered Users Posts: 750 ✭✭✭broker2008


    When you took out the plan it was for the medium to long term, that is still the case. Each month you invest you are buying units at a cheaper price than before. That is not to say that the units wont go back up or indeed down. If you must cancel, make sure you know what you are going to do with the money. Unless you need the money, I would generally speaking maintain and not increase the premiums.


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    #4
    Jimbo
    Closed Accounts Posts: 2,379 ✭✭✭Jimbo


    I have no current plans for the money.
    If I were to take it out, it would be going into a savings account.

    I'm just not happy putting €300 a month into something that is losing money.


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