Axa Sunlife

vancenang

Well that dos'nt look good
Is there any action i can take that may result in retrieving some of that 10400? i noticed some forum members have managed through letter writing and negotiating to get some money back i might have to try that
thanks for the advice
IB

TheAircrashBureau80

An update,
I received my surrender payment of £11017.49 in my bank account, a week after AXA got the paperwork. Well pleased!
Like other forum members on here, we thought that the Bonus Cashbuilder plan would provide us with the large sums of cash after 15 years according to their advertising. But as others have found, it hasn't lived up to expectations. I'm fortunate to get back £2377 more than I paid in, had I gone full term and paid the £840 in premiums 'til Feb 2014 I would have been disappointed with the returns. But at least now I have more control over how I save and I'm a lot more sceptical about getting involved with financial products nowadays.

dunstonh

Is there any action i can take that may result in retrieving some of that 10400? i noticed some forum members have managed through letter writing and negotiating to get some money back i might have to try that

If your purchase was outside that window where they have to refund then you are reliant on their goodwill. In many cases, the cost difference of refunding your premiums vs the value (not surrender value but actual value) is so small that its not worth them arguing the point.

vancenang

Am still going to write an angry letter to them,it will make me feel better:o.I now have to think about reinvesting my dosh when it arrives,i think i might give that a lot more consideration than i did when i took out the policy;) i may even buy some gold/silver because the indications are that come feb the usa will plummet off the old fiscal cliff and may take us with them.You cant keep printing fiat currency like we have(sorry i meant to say quantitive easing:eek:) and not have hyper-inflation or some other grave consequences.
Once again thanks for the help you prevented me from making a potentially costly mistake
IB

takesyourchances

Hi, I would like to thank all on this topic as by sheer accident I came across this just over a week ago and I held two AXA bonus cash builders, one from 2001 and the second from 2003. I opened these at 21 years old and 23 years old, like many I came across the adverts and thinking ahead to my 30's. After 5 years I was paying a total of £60 per month, £40 into the 1st and £20 into the second. It has been in the back of my mind for a while how they were doing with how the climates has change from they were taken out.

I read this entire topic a few times and my mind was made up that night to get out of these. I got onto them the following morning and had notes I wrote from reading various posts on here. I got my surrender values for both polices, the paperwork sent and it is working out I will get £2000 more back than I paid in. Totaling £9471 and now I am able to redirect the £60 a month into another direction. I realise they are not what we expected back then, I am happy to get out now and having a lump sum more than I paid in which I expect to be paid into my bank within the next 10 days or so. Part will go into my cash ISA before and after April, although I feel it is a losing battle with rates at the moment, at present I am getting 3% but after April I will be looking again. I will redirect some of the funds into a new long term investment.

Thank you to all on this topic, I can say after reading this all by sheer accident my mind was make up within an hour to get out of these and I was onto them by phone the next morning.

I came across this as I came on here looking for some new ideas having freed up some monthly income recently and getting more and more disillusioned at falling interest rates on savings / ISA's etc.

I felt I had to sign up to say thank you for bringing my attention to this, I am trying a few new ideas and will post on the relevant topics.

Best regards

iris1957

glad it worked out for you. me and my husband were out of the time zone, and our policies were from 1999 so were are only getting just a fraction over half of what we put in we feel totally ripped off by them still waiting for money to go into bank it will be a week tomorrow, iris1957

takesyourchances

iris1957 wrote: »

glad it worked out for you. me and my husband were out of the time zone, and our policies were from 1999 so were are only getting just a fraction over half of what we put in we feel totally ripped off by them still waiting for money to go into bank it will be a week tomorrow, iris1957

Hi Iris,
That is shocking to hear you are only getting half back of what you paid it, does not make sense really as really my first I only started a couple of years after you. I asked for a statement of what I paid into both which they sent separate and the surrender value is £2000 more.

I don't blame you for feeling ripped of that is ridiculous.

I am glad to be getting away from them after reading this forum.

Best regards

TheAircrashBureau80

iris1957 wrote: »

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

Are the policies you have definitely the Bonus Cashbuilder ones? The premiums paid look too low for the ones above.

iris1957

dosent look like it aircraft. still waiting on money being transfered to bank, they said they recieved it 16th when i posted it 12th first class, said it will be paid in anytime up to 31/1/13 it takes 5 days to sort paperwork out they said,

iris1957

guess what , just received claim forms back from axa after waiting from the 16th jan , that forms had expired on the 12th jan. WHY did they wait all this time to tell us that, because we complained about payout sum, they now said we have to fill in new claim forms and it will take up to 15 days for money to be transfered when they receive form fn joke, raging i spoke to them on the 21st and they said theyve received forms and money would be in no later than the 31st jan no mention of forms being out of date, now im scared to complain in case the delay it again by sending to claims dept, weve had some messing around by them,