Axa Sunlife

wishicouldaffordit

Griffin6668 wrote: »

Hi all, deary me what a mess. Shocking reading!

I wonder if anyone would be able and willing to give me step by step advice on reclaiming some or all (ha!) of my money back.

Situation: Policy taken out in 1998 at £10 a month rising to £20 a month for a 15 year stretch. What's the likely offer if I choose to bale out and what should I prepare for as a surrender value? Is it worth jumping ship to reclaim my cash to invest elsewhere?

Cheers in advance

I'll PM you a copy of a letter to send them.

KD81

Hello,

I've been wondering about my AXA policy for a few months now. Started in 2003 at £20 per month and now I'm paying £40 until 2018.

Is it worth keeping going until then?

My family also each have their own similar policies.

Thanks for any help!

KD81

Further to my post above, I've just read posts further back in this thread to find out some of the shockers!

Can anyone help me to start the process for claiming a refund? My policy was taken out in 2003 so I think I'm covered by the FSA ruling.

Stevescet

Hi all just found this wonderful site after reviewing my finances during the crunchy credit and i took out a cash builder plus plan in october 2003 paying £20 a month, now £40, just rang for cash in value of £1291 which is less than i have paid in. can some one please tell me the letter to write to claim money back less tax etc.

Stevescet

Good news got all my money back less the usual tax n stuff :beer::j:T a big thanks to wishicouldafford it for the excellent advice . now were can i put it now !!:rolleyes:

Oisins78

I opened an AXA Bonus Cash Builder in February 2002 and rang today about cashing it in, was told i would receive £1100. I have paid in around £1700. I tried to explain to the lady in India that my policy was "mis sold" as i opened it in Feb 2002 and didnt get the chance to canceland i want all my money back. I also told her about the FSA fining Axa £500,000 but she did not compute this information. Has anyone a template letter they have sent to Axa and succeeded in reclaiming all their money back.

Thanks

KD81

Hello,

I have received a compensation amount after writing to cancel my Bonus Cashbuilder Plus Plan but it does not include any of the bonuses accrued in the last 5 years. Does anyone know if they do have to pay out bonuses if we cancel?

Thanks in advance.
KD

dunstonh

KD81 wrote: »

Hello,

I have received a compensation amount after writing to cancel my Bonus Cashbuilder Plus Plan but it does not include any of the bonuses accrued in the last 5 years. Does anyone know if they do have to pay out bonuses if we cancel?

Thanks in advance.
KD

Depends on the nature of your complaint. However, the most common method in these cases is for the policy to be voided and the premiums returned plus interest. Therefore bonuses dont matter.

LTDMonkey

Hi,

What a depressing read !!! Doing some research on my AXA Sunlife Bonus Cashbuilder Plus policy and came across this thread !

I took out the the policy in 1999 at £10 a month rising to £20 a month for a 15 year stretch. Currently paid in £2040 and according to last statement total bonuses are £475. Having requested a surrender figure from AXA (as per previous customers) I was quoted with £1865 + £205 bonus.

Could somebody please advise me with regards going about reclaiming all my money back + bonuses ! Any complaint template letter would be much appreciated. Please e-mail to [EMAIL="thomas.doyle@gb.elster.com"]thomas.doyle@gb.elster.com[/EMAIL]

Also within my earlier statements 1999-2004 a Terminal Bonus of 15% was shown then in the 2005 statement it changed to Reorganisational Bonus of 15% and then in 2006 statements onwards there was no mention of either of these 15% bonuses !! Can anyone shed any light on these bonuses ?

Many Thanks in advance for any assistance,

Regards

Tom D

fabforty

I also took out a bonus cashbuilder. I started out paying £20 per month in September 2000, which has increased to £40 per month. I have just received a surrender valuation of £3600, which is slightly less than I have paid in over the years, but which I have happily accepted and have already started planning how to spend it. The reason that I am not upset or angry as so many on this thread seem to be, is because as a reasonably intelligent and level headed woman, I signed up to this policy, without asking questions or doing any research into the product or alternative (and probably better) products. Even when the policy documents arrived in the post, I just shoved them in a drawer somewhere. I wasn't saving regularly at the time, and I knew that I wouldn't miss the small monthly payment. Eight years later, I have wised up, opened my eyes and now wouldn't dream of putting my money anywhere without fully understanding what I was doing. Bottom line is that it was a dumb decision, but it was my decision - no arm twisting involved.
I also look on this money as a bonus, because if I hadn't started this policy, I know that I would have just spent the £20-40 a month on crap and would have nothing to show for it anyway.