Axa Sunlife

FairyElephant_2

Just got back from few days away to find my replies from AXA - I wrote to them on 6th Feb & they replied on 15th according to date of their letter - not too bad a length of time I guess.

Just like wishicouldaffordit, they claim they wrote to DH & I in June 05 to explain that 'there were some shortcomings in certain advertisements issued' - funny that neither of US got these letters either!!!!!!!!

Still, they have offered to cancel the plans and refund all premiums paid, plus interest at the Bank of England base rate +1%, less 20% tax on the interest. They sent us forms to fill in and then they will make payments direct to the accounts from which the premiums were collected, so no cheques to mess about with thank goodness!

So while I am not happy about being 'misled' in the first place, I am pretty pleased with their response and it was quite speedy (let's see how long it takes them to actually pay the money though!).

Many thanks to all on here for bringing this one to my attention and for your help & advice with this - long live the MSE Forums!

FE

wishicouldaffordit

FairyElephant wrote: »

Just got back from few days away to find my replies from AXA - I wrote to them on 6th Feb & they replied on 15th according to date of their letter - not too bad a length of time I guess.

Just like wishicouldaffordit, they claim they wrote to DH & I in June 05 to explain that 'there were some shortcomings in certain advertisements issued' - funny that neither of US got these letters either!!!!!!!!

Still, they have offered to cancel the plans and refund all premiums paid, plus interest at the Bank of England base rate +1%, less 20% tax on the interest. They sent us forms to fill in and then they will make payments direct to the accounts from which the premiums were collected, so no cheques to mess about with thank goodness!

So while I am not happy about being 'misled' in the first place, I am pretty pleased with their response and it was quite speedy (let's see how long it takes them to actually pay the money though!).

Many thanks to all on here for bringing this one to my attention and for your help & advice with this - long live the MSE Forums!

FE

i received my chq in little over a week i think

i don't think they wrote to anyone previously offering refund - underhand aren't they

Trying_to_be_good

Have read through this entire thread today - I have an AXA Sunlife policy that I took out in November 2000, but was called a Staff Assurance Scheme and is deducted direct from my pay. I've called for a surrender value and spoke to a very helpful guy at the Indian Call Centre (on a Bristol phone number!) so will be checking my paperwork when it all arrives. I'd sort of written this off, but maybe I can get a few thousand back (I've paid £30 a month since then) to contribute to my mortgage-free hopes!

I know the guarantee amount is £3427, the surrender value on the phone was £2361.74 including the 1 Feb 08 premium, total premiums paid to date are £2640, so I'm not too short.

I'm outside the window for the mis-selling of the Cash Builder Plus and Over-50s Plans, but I do recall a receiving a letter I didn't understand saying some of the figures were wrong in the projection.

I'll check it all out, and will post here with any news.

geepster

wishicouldaffordit wrote: »

i received my chq in little over a week i think

i don't think they wrote to anyone previously offering refund - underhand aren't they

Hi, Just sent you a pm re these policies. Thanks. G

wishicouldaffordit

Hi

have just sent you a reply via messages - hope it helps!

Claire

geepster wrote: »

Hi, Just sent you a pm re these policies. Thanks. G

lizzy24

hello all, been reading this forum well me and dh have a axa sun life policy one each. started in 1997 worked out what we have paid in and in total 2,270 each only four years to go was hoping it would pay the short fall on our mortgage, dont think so after reading these forums dont understand a lot of it ? should i cancel ours take the money and run.

thanks for any help.

ps do I phone them or write.

wishicouldaffordit

lizzy24 wrote: »

hello all, been reading this forum well me and dh have a axa sun life policy one each. started in 1997 worked out what we have paid in and in total 2,270 each only four years to go was hoping it would pay the short fall on our mortgage, dont think so after reading these forums dont understand a lot of it ? should i cancel ours take the money and run.

thanks for any help.

ps do I phone them or write.

i would write - would you like a copy of letter via pm

Trying_to_be_good

I wrote today - whilst I have a different product there has been a problem with the effect of charges being understated on the personal illustration.

Fingers crossed.

ahmedz123

Just recived my letter from axa saying that they had wroto to me about the fsa ruling and i must have not received it. Anyway, they have offered me a full refund to be paid into my account.

lizzy24

hello
just phoned axa asked them what the surrender value on mine and dh policy was 2002.77 + bonus 200.00 pounds dh the same checked what i had paid in 2,270 so have only lost 70 pounds each, sending me the surrender forms in the post.