Axa Sunlife

dunstonh

When you complain, you are complaining about the advice given. If you didnt use an adviser, then the best you can hope for is an error in the marketing documents. In AXAs case, there was an error and anyone purchasing one of these in that period when the error existed is very lucky as they will get their money back. Outside of that period, its your own fault for not taking advice (that is how it is viewed).

myrtle_2

still not written my letter, anyone else had success?

BONJOEY

im still awainting my reply, ill kepp you all updated, i did recieve a letter to say they are looking into mycomplaint, so i know they have recieved my letter x

BONJOEY

im still waiting lol xx
just thought id bump the post to see if anyone else had heard anything

BONJOEY

i dont have an update just yet, but a friend of mine has had a plan for 15 years and has paid into it for 11 years

only 5 pound a month, and she enquired about what her policy stands at at present, she has paid in over 600 pound and all she would get back inc bonuses, is 240!!!!!!!!



bad or what, i guess theres lots of people out there, just paying in the money and not really checking how there money is invested xx

ReportInvestor

BONJOEY wrote:

i dont have an update just yet

Ever the tease .

but a friend of mine has had a plan for 15 years and has paid into it for 11 years

only 5 pound a month, and she enquired about what her policy stands at at present, she has paid in over 600 pound and all she would get back inc bonuses, is 240!!!!!!!!

Unbelievable (although I suspect it's a result of a fixed monthly charge on each contribution which would have been a good reason for any adviser or salesman to say NO! )

Worth a mention by the financial press, perhaps? If she's up for it then PM me and I'll put her in touch.

What, or who, persuaded her to embark on this investment?

i guess there's lots of people out there, just paying in the money and not really checking how there money is invested xx

You bet .

The insurance companies need these mugs to make up for their investment mistakes and the crazy guarantees that were given to a minority of lucky (or "in the know" ) investors.

The FSA will go along with it because it will help re-stabilise these funds over time (the FSA has the twin functions of 1) ensuring financial stability and 2) looking after investors' interests). Guess which comes first?

myrtle_2

ok, that's made me get of my **** and write the letter, so I need policy details and to say something like AXA made an error in their marketing for the Bonus Cashbuilder Plus for which they were subsequently fined by the FSA and so therefore as I bought the policy in Nov 2003 I believe I am entitled to a full refund + interest and would they please investigate my complaint...anything else I should include?

dunstonh

The FSA will go along with it because it will help re-stabilise these funds over time (the FSA has the twin functions of 1) ensuring financial stability and 2) looking after investors' interests). Guess which comes first?

Indeed, the FSA shares some of the responsibility for the lower returns. Many believe that it has gone too far with the solvency requirements forcing companies to invest in lower risk (lower return) areas when there isnt a need to.

Keep the letter short and sweet and to the point. Dont try and waffle on to pad the letter out as you run the risk of tripping yourself up.

ReportInvestor

dunstonh wrote:

Keep the letter short and sweet and to the point. Dont try and waffle on to pad the letter out as you run the risk of tripping yourself up.

I agree with this, but with an important exception.

Don't write anything until we hear how BJ has got on and how they approach the issue.

You will almost certainly learn something whether he succeeds or not..

myrtle_2

ok, but why?