Axa Sunlife

FairyElephant_2

Way-Hay! Just thought I'd let you know that we got mine & DH's refunds into our bank account yesterday - everything we paid plus a tiddly bit of interest, but I am so relieved that we haven't 'lost' anything (except that we could have had a bit more interest, or saved a bit on the mortgage by paying extra into that instead!)
The whole process took less than a month from me first writing to them.

Many thanks to all on here for bringing this to my attention & for sample letters etc. - MSE ROCKS!

FE

beaney50

Also got a Sun Life savings plan started in feb 1997 at £20 a month rising by £4 a month each year to 2002 to £40 with half of 1st year`s contributions returned.
Have been offered £4,491.76 as surrender value now
projected maturity value for 19/2 2012

@ 3% =Guaranteed cash sum £4268 + bonuses now £1193+illustrated future bonuses £1279 = £6740
or lol @7% ==Guaranteed cash sum £4268 + bonuses now £1193+illustrated future bonuses £2229 = £7690.

Think ive paid in £4540 and had £120 back at the end of year1.

Should I just accept surrender value ?
Thanks

jo1967

I have come across this thread by accident & feel slightly worried now.

I have an Axa Bonus Cashbuilder Plus Plan, started in 1996 at £10 pcm rising to £20.

I have paid in £2440 (deducted £60 cashback) & have a surrender value of £2669.94. I only have 3 years left.

I read through the thread but feel blinded by facts & figures. Is it best to cash in now & put in an ISA (I would continue paying £20 pcm as well) or leave it to mature. I feel worried about losing my money now.

Advice greatfully received!

terra_2

Just a question. I am about to surrender an AXA cash builder, can I expect a cheque as the original bank account is now closed and I don't want this money to go astray?

Trying_to_be_good

Trying_to_be_good wrote: »

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.

Well, AXA's inability to get things right goes on. My letter to them clearly stated

'I understand that the effect of charges and expenses were understated on the personal illustration I received both before and after this policy started.
I am therefore asking that you cancel the policy, return all premiums paid together with interest and stop taking premiums direct from my salary.
Should you need to discuss this matter with me, please call on xxx'

They have sent me two letters. The first is dated 6 March which arrived today stating that 'AS requested your policy has been surrendered ... transferred to your account ... money will be available to you within three to five working days' so THEY HAVE SURRENDERED MY POLICY. The second is dated 11 March with EXACTLY the same text, but also attached is a cheque for the surrender value (maybe they'll transfer it into my bank and the cheque is extra compensation :rolleyes: ).

I phoned the Bristol/India Call Centre who said they can't cancel policies and refund premiums. I stated I knew they could if they were mis-sold. The lovely polite lady said she would raise it as a complaint and I would receive an acknowledgement within 5 working days. After asking why it hadn't been treated as a complaint when I first wrote, she said people ask to cancel when they mean surrender. I thought my language was quite clear!

Fingers still crossed, cheque will not be banked yet. Grrrrrrrrrrrrr.

baby_boomer

jo1967 wrote: »

I have come across this thread by accident & feel slightly worried now.

I have an Axa Bonus Cashbuilder Plus Plan, started in 1996 at £10 pcm rising to £20.

I have paid in £2440 (deducted £60 cashback) & have a surrender value of £2669.94. I only have 3 years left.

I read through the thread but feel blinded by facts & figures. Is it best to cash in now & put in an ISA (I would continue paying £20 pcm as well) or leave it to mature. I feel worried about losing my money now.

Advice greatfully received!

No-one on this thread has done anything but leave.

At least you've made money (even if you've lost it after inflation).

Trying_to_be_good

Trying_to_be_good wrote: »

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.

Hooray! After a letter enclsoing just the surrender value cheque (they say they didn't realise I was making a complaint!), they've now re-assessed my case and offered me half as much again! Just waiting for the cheque to arrive now! :j :j :j

This website is FANTASTIC.

Mine was a Save from Pay scheme for Civil Servants - if any wants to ask any more details so tey can make a claim, PM me.

jo1967

I too have now applied for my surrender value, which is more that I have paid in but a pretty poor return considering. Still sorted now & when it arrives it will be in an ISA as quick as a flash!

geepster

Hooray. Cancelled my 2 poorly performing policies. One of them was one of the mis-sold policies and I received back all the money I paid in plus interest. Thanks to "wishicouldaffordit" for all her help. :A
The money on both policies was paid straight into my bank account quite quickly after telling AXA Sun Life to cancel and completeing the forms they sent.
:j :j :j :j :j :j

wishicouldaffordit

brilliant news - well done.

I guess you won't be investing it in another AXA policy.