Axa Sunlife

dunstonh

Should i write a letter of complaint and ask for all my money back or just cut my losses and run.

A surrender value is not the same as a current value. It will have penalties applied to it.

That is not grounds for complaint so you would have to think of a different reason.

incredibleh

dunstonh wrote: »

A surrender value is not the same as a current value. It will have penalties applied to it.

That is not grounds for complaint so you would have to think of a different reason.

I guess its best i take whats been offered and run as far as i can from AXA.

I feel some what short changed though

puthsardarade

Quote:
I hope someone can advice...
I have invested £2340.00 to date on my Axa sunlife bonus cashbuilder. The surender value of this to date is £2244.98! Current bonus is £608.66 which I was told was around 1.25% and this ends on 13/12/2011.

Should I surrender or continue? I am only paying £20 a month into it.

.....By surrending I end up losing out, is there nothing else I can do other than wait until 2011? Is the bonus likely to increase by more than 1.25%?

Cheers,
G

incredibleh

I dont seem to understand why i am lossing more money than others, i stand to lose around £1000.00 where others only seem to lose a couple of hunderd.

Are you stung more if your monthly premiums were higher?

M20DAL

hi just noticed this thread

i have paid in £8700 over the last 9 years 50-100 a month they have jjust offered me £8668 surrender a loss but not much but im still p***** off should i take this what are the chances of it picking up ? and what about the terminal bonus at the end is it worth keeping for this it but they seem to change it to what they want
thanks

dunstonh

There is no chance of it picking up. The PPFM for the AXA plan restricts the amount the annual bonus can be increased/decreased in a given year and with that restriction, there is unlikely to be much improvement. The terminal bonus could pick up a bit but the charges on the plan are too high by modern standards.

Its now a case of seeing if alternatives can cover the exist costs.

M20DAL

would you recommend to take the money ?

ReportInvestor

incredibleh wrote: »

Are you stung more if your monthly premiums were higher?

It stands to reason that if you dive into a poor investment you stand to lose more than those who dip their toes.

If you had chosen well, you would have done commensurately better.

2000 was also a bad time to start in with profits investments since the market falls to 2003 have hit the funds hard and investors are still taking that hit because of the nature of with profits (and they will not be in a position to benefit from the upturn since the fund now has a lower % in shares as well as those well documented high charges).

To those hesitating about cashing in because you are "losing" money

It is a classic investment mistake to hold onto a losing investment in the forlorn hope that "something will turn up".

Every single sum on this thread which compares the Axa policy to what would happen if you invested the capital and future monthly contributions into a cash ISA suggets that your money is safer and more likely to do better in a cash ISA unless interest rates take a dive.

sistersis

Hi
Just spent the whole afternoon/evening on here reading about the Axa Policies.
I too have 2 such policies.
First one
Took out - 31st Jan 2000
£40 paid in first year and then £8 extra each year becoming £80 the 6th year.
Currently paying £80 now a month.
Received 1/2 premiums back of the first year
Total paid in £5,520.00
Current surrendder value ££4,641.69 plus bonus = £4,831.88
Policy ends Jan 2015

Second Policy
Took out - 11th March 2003
£50 paid in first year and then increasing to £10 each year upto £100.00
Currently paying £90 a month
Received 1/2 premiums back in first year
Total paid in £3.300.00
Current surrender value £1.707.29 with bonus = £1,755.12
Policy ends 11th feb 2018

I have read that if you took out policies betwen 2002 and 2004 you can get all you money back so hopefully the second one I will get this back but not sure what to do about the first policy.
Wanted to get money back and pay off mortgage.
Currentlly £105K approx @ 5.55% just over 11 yrs left.
Was thinking about taking the money and investing somewhere for a year as we can pay uptp 12.5k a year off mortgage without any penalites.
Then the £170 we were paying into these we can pay into another account paying better interest and then put this into our mortgage too.
Any help will be gladly welcome
Thanks

baby_boomer

sistersis wrote: »

I have read that if you took out policies betwen 2002 and 2004 you can get all you money back so hopefully the second one I will get this back but not sure what to do about the first policy.

Cash it in and either invest in a cash ISA or pay down the mortgage. Either way you will almost certainly be better off.

Good luck with your attempt to get your investments + interest on the second policy.

Humour us by posting Axa's "are you sure you want to take this risk?" sob letter you are sure to receive :rotfl: .