Axa Sunlife

BONJOEY

marc_lrfc wrote:

Just rang up to find out details on my policy, i started it on feb 2000 with £10 payments and going up year by year to £20,
told me over the phone if a cashed it in now i would get £1018.

So dont know whats the best to do now? any ideas?

WOW brill offer, id cash in your only approx £180 down thats a good offer compared to all these posts xx:T

marc_lrfc

BONJOEY wrote:

WOW brill offer, id cash in your only approx £180 down thats a good offer compared to all these posts xx:T

You serious?????:eek:
does every1 think the same really puzzled on what to do to be honest

BONJOEY

Nope Serious!!!
Id Cash Now!

dalriada

I lost about £500 on mine policy - so £180 isn't too bad

ReportInvestor

To marc_lrfc
Ask Axa for a future projection assuming that the underlying fund has 6% growth (unlikely) but it will give us a basis for calculation.

It doesn't matter what the figure is, as long as we've got a figure.

Axa may use 4%/6%/8% (low,medium,high) or 3%/5%/7%. Any figure will do for our purposes.

In the meantime, check your initial projection document and tell us what the RIY (reduction in yield) is.

And also was your policy one of the one's that got cash back after 12 months?

ReportInvestor

ReportInvestor wrote:

Well done Liiiab ,

My first reaction is that this [contributions paid + 1% net] is rather a poor offer from Axa. Why not 4% gross (3.2% net) which was probably achievable from a decent savings account, at no risk, over that time.

I've now talked this through with some financial journalists, as promised, and they reckon that return of contributions + 3% gross (2.4% net) would be a fairer offer from Axa.

Obviously MSErs could have got better than 3% even in a low interest environment. Against that, there has been the benefit of some life cover.

marc_lrfc

ReportInvestor wrote:

To marc_lrfc
Ask Axa for a future projection assuming that the underlying fund has 6% growth (unlikely) but it will give us a basis for calculation.

It doesn't matter what the figure is, as long as we've got a figure.

Axa may use 4%/6%/8% (low,medium,high) or 3%/5%/7%. Any figure will do for our purposes.

In the meantime, check your initial projection document and tell us what the RIY (reduction in yield) is.

And also was your policy one of the one's that got cash back after 12 months?

YES i had cash back after 12months if i remember.
i can give them a ring if you suggest or shall i just take money and run?

ReportInvestor

I'm not going to suggest anything one way or another, unless you can give me a basis on which we can start to do the sums.

And for that we need the projected return figures with today as the starting point.

marc_lrfc

Now im really confussed!
rand up try'ed to explain what you said but i was talking to an indian woman whi could hardly understand and she did not really have a clue just said she cant put figures on anything in the future.

ReportInvestor

You'll have to try writing to them.

Ask for the projected return assuming that the fund grows at 6% or whatever average rate of return that Axa prefers to quote.

This is the same calculation that mortgage endowment with profits holders receive to enable them to manage any shortfall.