Axa Sunlife

iris1957

wishicouldaffordit wrote: »

no you should be entitled to all of your money back plus interest

do you know this from experiance (wishicouldaffordit)? before i call them and complainx

iris1957

iris1957 wrote: »

do you know this from experience (wishicouldaffordit)? before i call them and complain have you cashed one in and got all your money back

wishicouldaffordit

iris1957 wrote: »

iris1957 wrote: »

do you know this from experience (wishicouldaffordit)? before i call them and complain have you cashed one in and got all your money back

yes I cashed in 2 - got all my payments back plus interest - quoted the fsa ruling at them.

wishicouldaffordit

I will pm you my letter Iris

ernie-money

iris1957 wrote: »

iris1957 wrote: »

do you know this from experience (wishicouldaffordit)? before i call them and complain have you cashed one in and got all your money back

Hi Iris,

I have just replied to your PM - before ringing them - make sure wishicouldaffordit didn't take his policy out during the time period when there was an error in AXA's advertising, which meant that anyone who took a policy out then is entitled to a full refund plus interest. Unfortunately my policy wasn't taken out within that time frame, I think it was later, so I don't think yours would be either... Sorry!

ndi149

Hi, just reading this thread and realised I fall into the Axa Sunlife missold dates. I'm fairly certain I didn't recieve any information from Axa at the time about the FSA ruling.

As the Friends Life Company now manages these With-Profits funds is it worth contacting them about receiving a refund of the premiums plus the interest, or is it fair to say the chance has now passed? Either way I'm going to cash in early as I unfortunately need the money earlier than planned.

TheAircrashBureau80

Hi,
I'm a new member on here.
Having read a lot of posts here regarding the AXA Sun Life Bonus CashBuilder Plan, I'm frankly shocked to realise that I'm yet another victim. When I took out the plan back in April 1999 paying £30 initially then rising to £60 after 6 years, I have paid so far £8340 and acquired £1961 in bonuses. The general opinion on this thread is to cash in and get a surrender value quote. Is it best to phone AXA for one or to write first? Could someone supply me with a template copy of the letter they used to write to AXA in order to get their premiums returned please?
Thank you in advance,
TheAircrashBureau80

iris1957

hi there myself and my husband took out policy same time as you, but fixed premium, of £20 and £14. example he paid in £3,200 and was quoted £1781 i paid in £2300 and was quoted £1250. so you can guide it by those figures given 1 month ago i wanted the money for xmas as i was in financial trouble which i told them i was shocked what they offered us considering the plan is due to end in 1 year 3 months expected more, we knew there would be penalties to pay but not nearly half of what we paid in total rip off. !! i complained about this thinking they made an error, all they did was pass it on to another dept which is now into its 4th week in replying to us, i phoned them on thursday to see what was happening and they said it could take up to 8 weeks if decision is not made so the will have collected another 2 payments by then xmas is over and done and im up to my eyeballs with payday loans now, hope this helps you a bit the way they work iris1957x

TheAircrashBureau80

Hi iris1957,
Thank you for your reply.
The conclusion that I have come to form reading other peoples' posts on this subject is to write to the Complaints Department and inform them that AXA Sun Life were fined £500,000 for mis-selling between February 2002 and January 2004. Like yourself, my policy falls outside those dates but the mere fact you have made them aware of this should give you the option of having your policy voided (as if it never existed) and all your premiums refunded + 1% interest.
I will be contacting AXA Sun Life (now known as Friends Life) to get a surrender value quote, and if it's less than what I paid in then I'll do exactly what I suggested you should do, earlier in this post.
I hope this helps you.

TheAircrashBureau80

dunstonh

he conclusion that I have come to form reading other peoples' posts on this subject is to write to the Complaints Department and inform them that AXA Sun Life were fined £500,000 for mis-selling between February 2002 and January 2004.

They were not fined for mis-selling. They were fined because of incorrect figures being used in the small print which most people wouldnt even read.

my policy falls outside those dates but the mere fact you have made them aware of this should give you the option of having your policy voided (as if it never existed) and all your premiums refunded + 1% interest.

It has no relevance at all as they will know what application you used and therefore which advert you were responding to. That said, the cost of refunding premiums plus interest vs the cost of surrender is so small that its often cheaper for them not to argue the case but just to void the policy.