Norwich Union/ Aviva

Katykat

Can anyone explain what the process is at the moment with NU? Got an endowment maturing in May this year. I think ?? we were due to get a payment later this year and there should be another payment which we wont get because our policy will have matured . Now ,I've read in the papers that this payment may not be going ahead. What is this payment? and is it still going through ?

EdInvestor

One payment has already gone through late last year.

The second one was due shortly but has now been deferred and is to be renegotiated - possibly cancelled.

http://forums.moneysavingexpert.com/showthread.html?t=651389&highlight=Reattribution


Given the way payouts are falling I wouldn't hang around waiting for it.

dunstonh

The second payment of the special bonus has not been deferred or cancelled. That will be paid this December coming (and the one after).

Its the reattribution that is on hold.

Katykat

Ed, I havn't received any payment yet, should I have? & how much is it supposed to be? Our policy (originally) was supposed to cover £34000. Of course, it wont be anywhere near that. Also, it matures in mid May, when are we likely to here from NU about this, or do they simply send a cheque?

loobs40

I took this from the Norwich Union site re Special Bonus

"Each of the three special bonuses will increase with-profits investment values by around 3.6%. The 2008 special bonus was 3.6% of the value of your eligible with-profits investment on 1 January 2008 and the 2009 special bonus was also 3.6% of your eligible with-profits investment on 1 January 2009. Your 2010 special bonus is likely to be a similar percentage value."

Unitised

The special bonuses for 2008 and 2009 have now been added to your policy. Providing you remain invested in the eligible with-profits fund until 1 January 2010, your 2010 special bonus will be added at the start of 2010.
Conventional

Your 2008 special bonus was added at the end of 2008, as part of the regular bonus for that year. Your 2009 special bonus will be added along with your regular bonus at the end of 2009.


I haven't seen a 2008 statement come through yet. Could someone explain which value on my policy will be increasing by 3.6% ?

thanks

Katykat

Thats interesting loobs, should have read it myself. With my policy, the 2008 special bonus should have been added to my policy, but because the policy matures in May, perhaps they'll send me a cheque for my 2009 special bonus- here's hoping.