Axa Sunlife

baby_boomer

Well done both of you.

It's not been a waste of time.

You've learned an invaluable lesson about insurance companies that some people unfortunately don't grasp until after they retire.

That's priceless.

Now channel your anger into learning more about the best ways to invest, rather than fall back on the "safe" option.

adbead

Money received back in full yesterday

Jaime-V

Hi Everyone!

Would you be able to advise me about the BCP... My husband and I took out a policy each beginning of Jan 04, have to check when I get home but I think we actually applied Dec 03 then Jan 04 was the first payment.

I have been reading back through this thread with great interest. I got a settlement figure this morning of £337, have paid in over £700 so thats what made me look on here as I was not happy with the figure given.

Do I have a case to write and say we were mislead about the risks and would like a full refund etc?

Would anyone have a draft letter as Im useless at writing letters (get carried away!)

Any advice would be much much appreciated.
Thanks
J

dunstonh

Do I have a case to write and say we were mislead about the risks and would like a full refund etc?

No. Apart from the technical error a few years earlier that allowed refunds of premiums to occur there is no reason to believe you have been misled.

This is mainly in part to you not seeking advice. If you didnt seek advice, then you cannot claim you were misled.

Jaime-V

Sorry maybe mislead was the incorrect word...

http://www.fsa.gov.uk/pages/library/communication/pr/2004/111.shtml this link says up to Jan 04. We applied in Dec 03.

Im going to double check date when I get home from work. We have both cancelled policies today and asked for written SF figures. I suspose nothing beats a try writing back and saying we are unhappy with the SF given?

Thanks
J

dunstonh

If you fall within the timescale of the technical error from AXA, then you can complain and expect to the complaint upheld. You dont need to write war and peace. Just tell them you feel the advertisement was misleading and you want your premiums returned plus interest (minus any surrender value already paid out).

Jaime-V

dunstonh thanks for that, will post back when I hear anything from them and let you know.

J

GreenNinja

Oh my God, have just stumbled across this thread!

Have not read all 11 pages, but I too have one of these bonus cashbuilder plus policies which I pay £40 into every month.

My first priority when I get in from work tonight will be to dig out the paperwork and find out about cashing in the Policy.

Thanks so much for highlighting this issue.

GreenNinja

OK have now read the entire thread!

Called Axa this morning for redemption figure, I am going to get 2,888.98 plus bonus making a total figure of 3,018.78.

Have been paying in since March 1999 started off with £30 a month, and am currently paying £40. Got half of payments back at the end of the first year.

On a plus side am going to use this money against my mortgage and also am going to invest the £40 a month into an ISA.

My mega thanks again for the poster who has given so much good advice.

:T

jonnyboy80

Hi, have just stumbled across this thread by mistake and wonder if anyone could help me...?!
I have an Axa Sunlife policy which I opened in Sept 2002 with £20 per month. I was guaranteed a figure of £4428.00 plus bonuses over the 15 year period. I read just read through my annual statement and have to date paid in £1644.00 and have received in total £256.63 in bonuses. Can I ask for a refund of these premiums plus my bonuses as this policy was opened between 2002/03 when Axa (I believe!) were refunding premiums paid in??? Can any interest be claimed back as well?
Please help as slightly confused and obviously want the best for my cash!!