Axa Sunlife

Lovingitifitsabargain

Just called AXA to get surrender value - they said 436.00 plus 32.94 bonus - total 469.71 - gotta work it out but I took this out on July 2003 - was paying 30.00 a month to start with it is now 48.00 a month - did get half what I'd paid back after a year as most do - surely I am entitled back more than they are offering me - and as I stated the policy between 2002 and 004 - they are sending me a surrender letter out - what do I need to do - someone mentioned an FSA document what is that - your help guidance would be really apreciated - thanks

ReportInvestor

I doubt the surrender value is "wrong", even though it stinks. It is Axa's way of making up for poor investment performance, high charges, paying for other people's guarantees within the same fund and taking their cut from investors who leave early.

Write to Axa saying that their ads did not make clear the risks involved in the investment, sayinjg that you know of the FSA fine re the misleading ads when you bought, and asking for your money back plus interest.

Hopefully Myrtle will report back on her progress soon.

Please keep us posted how you get on.

Lovingitifitsabargain

ReportInvestor wrote:

I doubt the surrender value is "wrong", even though it stinks. It is Axa's way of making up for poor investment performance, high charges, paying for other people's guarantees within the same fund and taking their cut from investors who leave early.

Write to Axa saying that their ads did not make clear the risks involved in the investment, sayinjg that you know of the FSA fine re the misleading ads when you bought, and asking for your money back plus interest.

Hopefully Myrtle will report back on her progress soon.

Please keep us posted how you get on.

yes I will send a letter with the surrender form they send to me and a copy of the FSA document that I have found
I will let you know how I get on - I requested the form over the telephone think I may even write aswell and enclose the FSA doc they may even come back with a better offer !:rolleyes:

myrtle_2

hi, thanks for your interest, the answer is nowhere..they went into a bit of a panic and asked me where I had got my info from, that they'd look into it and call me back.....which of course they did not.
So, my next thoughts were to write a letter saying I was unhappy with the service I had been given on the phone this week and also ask for my money to be repaid with interest as the policy as far as I could se had been missold...

what do you think I should do?

myrtle_2

maybe I should call them again?....

myrtle_2

nobody there now so a letter it will be..

Lovingitifitsabargain

myrtle wrote:

nobody there now so a letter it will be..

Lady I spoke to earlier was helpful - although at the time didn't know whether she was giving me the full surrender value - anyway I have asked for the forms to be sent and have just drafted up a letter and attached the FAS document and posted it - will wait and see over anext couple of days if I get more than one rsponse from them !! will keep you posted - still gotta work out how much I have paid them - my OH pays them 100 a month but believes it's a little saving scheme for him which I said fine as long as you don't expect a big bonus as a thank you at the end - I am grabbing my money and running ! ha ha :j

BONJOEY

just an update i have recieved a letter from axa , and they are investigating my complaint, so we will see!!!!!!

hope they take my point of view x

dalriada

If you took out your policy before Feb 2002 don't expect anything. I was in this boat and they rejected my complaint - I've had to cut my losses and get out! Good luck though!

BONJOEY

dalriada wrote:

If you took out your policy before Feb 2002 don't expect anything. I was in this boat and they rejected my complaint - I've had to cut my losses and get out! Good luck though!

how did you complain, and was you offered this cash builder plus through another company, i,e i was offered this polociy through readers digest, i will let you know my outcome

what was your surrender value and how much had you paid in?
xxx:o