Norwich Union has announced further cuts to its with profits values on surrender. Until recently, if you surrendered a with profits policy issued by Norwich Union the surrender value would have been reduced by 12%. That figure has now increased to 14%.
A Norwich Union spokesperson said "despite the falling markets we have been able to keep the increase low due to a smaller weighting in shares".
We would urge anyone surrendering policies to check with the policy provider before surrendering. You might get a shock if you were told a surrender value that has now gone down. Ask the company to telephone you with the value before the surrender goes through.