Axa Sunlife

baby_boomer

LTDMonkey wrote: »

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 ?

First I've heard of this. It sounds like how Equitable Life used to present their statements.

IIRC Terminal bonuses are not guaranteed and are generally only payable at the end of the policy IF investment returns warrant them. It sounds like it has vanished into the ether - although an explanation to investors would have been nice.

This leaves the guaranteed sum assured and the small reversionary bonus. They can't take these away from you - but as you will have noticed, they are unlikely to come to as much as people have paid in.

When surrendering, of course, even these sums are meaningless. What matters is the underlying performance of the Axa Sun Life with profits fund (terrible) MINUS the very heavy charges on this policy.

JMW77

I have paid AXA about 18,000 paying the maximum allowed anyone else cashed in before the policy matured i have 5 years to go ?

m3ash

Hi,

Just come across this thread and realised how much a rip off this policy is!

Would be grateful if someone could email me a letter template to send to AXA so I can surrender this policy.

Thanks

omega23

Hi,
I have also just stumbled across this helpful thread and realised that my hubby and I both took out the cashbuilder policy in Feb 2003. I have also realised though that I phoned them 3 years ago to advise them of my change of address but it obviously hasn't been done as I have never received any more yearly statements. Please may someone kindly e-mail me the letter template and also please advise me if I should write to them to first to ensure my address has been changed and them send my letter or should I send both letters together? don't want any correspondence going to my old address :-(

Thank you all for your help.

wishicouldaffordit

omega23 wrote: »

Hi,
I have also just stumbled across this helpful thread and realised that my hubby and I both took out the cashbuilder policy in Feb 2003. I have also realised though that I phoned them 3 years ago to advise them of my change of address but it obviously hasn't been done as I have never received any more yearly statements. Please may someone kindly e-mail me the letter template and also please advise me if I should write to them to first to ensure my address has been changed and them send my letter or should I send both letters together? don't want any correspondence going to my old address :-(

Thank you all for your help.

Have sent you a PM - just amend it to tell them your new address at the beginning.

Dopple

Hi Guys,

I have an Sun Life Endowment Plan.
Taken out Feb 1998, Maturity Feb 2013.
Now paying £25 per month.

As of Feb 09 the value is:

Surrender Value: £3,011.59 (inc £430 reversionary bonuses)
Death Claim Value: £4,244.61 (inc £510 reversionary bonuses)

I don't need the money now, but if this policy is no good then I would rather surrender it and put the money elsewhere.
Should I leave it until 2013, surrender it, or sell it on?

Advice please.

Jodie1975

Hi, I have a Bonus Cashbuilder Plus with Axa that I took out March 2000. I have been paying in £20 per month (started at £10) for the last 9 yrs + 3mths, total: £1860. I just called to see what the current surrender value would be and she said £1873.28 which is obviously rubbish for 9 yrs of investment but wasn't less than what I paid in, thankfully. I have asked for them to send me the projected maturity values, which she said she would (we'll see) but what should I do, shall I cash it in? Will it decrease in value in the future? She also offered me lots of options on the phone; I could have premium holidays (then have to pay back plus 8% interest!!) make no payments and have reduced life cover or something or sell the policy to a broker. I won't be bothering with any of these!

Could anyone give me some advice as to what is best to do with this as it doesn't fall within the 2002-2004 time frame.

Many thanks

By the way, a cheaper number to call them on is 01179899000 and I spoke to someone I could understand, not a call centre.

dovoro

After sending the letter that member WISHICOULDAFFORDIT sent me, I've received a letter(4 weeks after sending it) from AXA, stating that all monies +1% interest paid into my plan, taken out in 2003, will be refunded upon receipt of a cancellation request form sent out with the letter, minus 20% tax taken off the interest only.

No bonuses are to be included apparently, but I'm at least happy to be getting the money back that I've paid in. the letter sent out within a week of sending my letter stated that it could take up to 8 weeks to investigate and process my 'complaint' and I cancelled my direct debit on the same day I sent the letter.

thanks for all your help!

dunstonh

No bonuses are to be included apparently, but I'm at least happy to be getting the money back that I've paid in.

What they are doing is voiding the policy from inception. That means it will never have existed effectively. So, you wont get bonuses.

Good result though.

wishicouldaffordit

dovoro wrote: »

After sending the letter that member WISHICOULDAFFORDIT sent me, I've received a letter(4 weeks after sending it) from AXA, stating that all monies +1% interest paid into my plan, taken out in 2003, will be refunded upon receipt of a cancellation request form sent out with the letter, minus 20% tax taken off the interest only.

No bonuses are to be included apparently, but I'm at least happy to be getting the money back that I've paid in. the letter sent out within a week of sending my letter stated that it could take up to 8 weeks to investigate and process my 'complaint' and I cancelled my direct debit on the same day I sent the letter.

thanks for all your help!

excellent news - well done :j