Advice Please - Axa Sun Life Savings Policy

Hi dundeeman

Google for "TEPs traders" to find companies to approach for a quote.

dunstonh wrote:

This sounds like when of the awful Carol Smilie plans... these plans are a disaster.

Click on this link to a previous Axa thread to see if dh is right

The amount contributed and the term of the policy matches one of their "bonus cashbuilder plus" specials starting out at £10pm with payments increasing over the first five years to reach £20pm.

I don't know about any bonus (miniscule) or cashbuilder, but it usually comes plus much gnashing of teeth :mad: .

Commiserations, DUNDEEMAN .

Do you have to cash them in? It may be best but if you gave us the sum assured, bonuses to date and confirmed what you are paying in, then we could give you more information before you choose your option.

We do have to be clear that no advice can be given here. Even those of us that are regulated and authorised to give advice cannot do so. We are offering suggestions for you to investigate further.

In year 8 you have paid £1920. Its worth £2695 at maturity if it doesnt make any more money. Over 15 years you would have paid in £3600.

You are probably going to break even on maturity, if you are lucky.

So you need to decide whether its worth losing £300 now to get your £1600 out or waste another £1680 over the next 7 years to break even or still lose £300 as there is a good chance it may not make £3600. If things were really good over the next 7 years, you could still end up in surplus. However, not many would think that is a likely outcome.