One million Norwich Union policyholders to share £1.4 billion

payless

having worked for them ( Commercial Union) in the past I have 5 qualifying plans ( 3 pensions , 1 mtg endowment & 1 matured savings plan - payout was poor)- don't envy the postman , as I've seen a dummy pack already!

smartpicture

I had my pack a week ago, but it didn't include the voting form, which is the key bit! I have two policies with them, but only one qualifies.

It has a detailed explanation of how to decide to vote yes or no, although I suspect most people will just grab the money and not read it. Even if you do, it's based on many best-guesses on what will happen in the future, which is notoriously hard to predict! Aviva say that 99% of people are better off taking the offer, the policy advocate says between 75% and 95% would be better off taking the money. After reading it all, I'm inclining towards saying No as I don't desperately need the money right now and I suspect I will be one of the 25% not better off.

Everyone should get their money by the end of 2009.

an1179

payless wrote: »

having worked for them ( Commercial Union) in the past I have 5 qualifying plans ( 3 pensions , 1 mtg endowment & 1 matured savings plan - payout was poor)- don't envy the postman , as I've seen a dummy pack already!

Hey I worked for CU for 28 years till 2002 :j I have one endowment maturing in 2010 and one joint one in 2013, have not received my offers yet.

clithes

bagby wrote: »

we have an endowment policy with them - will we be eligible - we havent received any paperwork about this?

Aviva have a policy checker to see if you are eligible. I cannot post a link so go to the Aviva website and search for Reattribution, they have a mini site dedicated to it

Regards

agsnu

https://www.lifeft.qs.aviva.co.uk/fundtransfer/announce/am-i-eligible.do

payless

an1179 wrote: »

Hey I worked for CU for 28 years till 2002 :j I have one endowment maturing in 2010 and one joint one in 2013, have not received my offers yet.

I lasted about 18 months before being made "redundant" in 1992..( after leaving a bank position) possibly my worst career move ..

JohalaReewi

My CGNU with profits qualified but matured in 2007 so I missed out on the extra bonuses and don't get a vote. Looks like I will just get a payout. What's the betting it's nearer £200 than £1000

If it is £1.4billion between £1million policies then the average payout should be around £1,400 per policy

Baldur

JohalaReewi wrote: »

If it is £1.4billion between £1million policies then the average payout should be around £1,400 per policy

That assumes that every policy was of the same type, had the same value and had run for the same length of time, as their criteria take these points into consideration when calculating the payout valuation.

tightrs

just read through quickly i have been offered £354 and i think i will vote no ,has anyone been offered anywhere near £1400

dunstonh

has anyone been offered anywhere near £1400

I have one client that has £2200. Most of the ones I have seen have been around the £800 mark

The average is also not £1400. The average payout is £500.

You would expect pensions and investment bonds to get bigger payouts than endowments.