aviva - reattribution offer

MrsWenger

Good afternoon everyone, i am sorry if this seems an ignorant question but i am at a loss to understand why this pot of money exists but my endownment statements suggest a significant shortfall at maturity. Can anyone clarify please?

Thanks

Tracey

oldwiring

Perhaos http://www.timesonline.co.uk/tol/money/savings/article586148.ece this article will be worth reading.:)

MrsWenger

oldwiring wrote: »

Perhaos this article will be worth reading.:)

Hi,

Many thanks for the referral to the article. As i would like to abide by the forum rules and not cause any offence to other members by using choice language, i will just say how delighted i am (not) to see that the surplus is referred to in section 6 of the article as "Insurers use orphan estates like a massive financial cushion, helping them to write new business and to weather economic storms."

I shall sleep altogether better knowing that and may even let them keep my little bit in case they fall on hard times!!

Best wishes,

Tracey

gocat

djn576 wrote: »

i've just received aviva's rettribution offer - for .

Are they still sending these out. Havent received one yet (oops should have read telegraph link first, they are taking a month to send them out)

TIA

Edit: Just seen this bit "CGNU Life fund or its Culac with-profits fund. These are the original General Accident and Commercial Union with-profits funds, both of which have either been merged or taken over by Norwich Union in the past decade"
Mine was taken out in 1990 via norwich union so guess I dont qualify

jones41

i've been offered nearly £500 & the policy is due to mature 2015. i'm assuming that if i vote yes, my price promise won't be affected?

before i voted yes i also wanted confirmation that i wouldn't be eligible for any further special distribution payments if my policy had matured by the time the next one came out.

dunstonh

Mine was taken out in 1990 via norwich union so guess I dont qualify

You already had your money. So you dont get a dip into the other pots that you are not invested in.

i'm assuming that if i vote yes, my price promise won't be affected?

No impact on mortgage price promise amounts. That is funded by other means and will continue.

jaszammi1

i recieced my offer today and what i want to know is if i accept, i beleive you will be wavering any future rights to annual bonuses, is this correct?
Also does it affect the endowment promise of 6%. I took mine out with CU back in 91. Any advise would be appreiacated.

dunstonh

if i accept, i beleive you will be wavering any future rights to annual bonuses, is this correct?

No. That is wrong.

You will still get the annual/daily bonus and terminal/final bonuses. You just wont get any special bonuses in future that may occur from time to time.

Also does it affect the endowment promise of 6%.

No. As already mentioned in the post above yours, it doesnt.

jaszammi1

THKS for your quick reply so really there are no real CONS for declining the offer, as i think it was you who said by the time the next payout will be we could all be recieving our pension or worse!!!!

QWood

Hi,

I also recently got one of these offers, and am at a crossroads as to how to proceed. The general consensus seems to be that I should just go for it, but I have a few concerns in the long term.

My policy matures in 2016; If I accept the offer now, will the shortfall on my policy increase considerably more compared to if I were to decline the offer? Hope that makes sense!