One million Norwich Union policyholders to share £1.4 billion

in Savings & Investments
50 replies 9.3K views
135

Replies

  • jonnybjonnyb Forumite
    598 Posts
    Part of the Furniture Combo Breaker
    My offer is £237 minimum, for an endowment that matures in 2020.

    I don't need the £237 right now, and the future value of it, if invested as cash with compound interest, would not be massive.

    Plus, I don't like the fact that the subliminal message from their literature seems to be "vote YES."

    For the loss of £237 I am willing to gamble on getting more just before my policy matures.
    Karma is a wonderful thing. ;)
  • lisa76lisa76 Forumite
    1.6K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    I've got an endowment that finishes in 15 years so I got what I expected - the minimum £200 offer. The money will come in handy around Christmas, so I'm going to vote yes.
    Can anyone advise on how I will be affected if I cash in my policy when I get the payout?
  • NOVASTARNOVASTAR Forumite
    233 Posts
    I have been offered £200 - I only paid into this pension for a short while and haven't done so for many years now. The total at maturity is so low that I am voting YES, then taking the money and running!
  • Elmer_DuddElmer_Dudd Forumite
    201 Posts
    Part of the Furniture 100 Posts Combo Breaker
    A relative is gutted with what they are offering him_

    Qualifying CU policy running since 1988.....they have offered just under £600!!!

    Qualifying CU policy running since 1993...they have offered £200!!!

    Something smells rotten over this reattribution.

    And what do they mean by a minimum payout of £200..will they offer more??

    Elmer
  • oldwiringoldwiring Forumite
    2.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    jonnyb wrote: »

    For the loss of £237 I am willing to gamble on getting more just before my policy matures.
    As an oldie ( you're not is my feeling) I'll take the money and hobble;).

    I have a ex CULAC with profits bond taken out 1097, that with the present situation has not done too badly against shares. My offer is just over 2% of current value.

    Before any one says 'owt. I know maybe I should have done something, but life can get in the way of the ideal.:D
  • alaredalared Forumite
    4K Posts
    I have spoken about this subject many,many times on the other thread.
    This will be my last 2p worth on the subject.
    I have accepted the offer signed it and sent it back.
    Next year is the 10th anniversary of my policy and I intend to cash it in while there will be no MVR in place,to claw back whatever % of my money.
    That`s the reason I`ll be taking the money and running.
    Just to add that I wont be taking out another long term financial product EVER.

    End of story :T:T:T
  • an1179an1179 Forumite
    1.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Forumite
    I've been offered £436 on one and £393 on the other.
  • PhuddlesPhuddles Forumite
    26 Posts
    I've had a letter yesterday offering £676. I signed up today to visit one of the Ombudsman's Roadshows in a couple of weeks and will wait to hear what she has to say before I make my decision. My endowment policy has four more years to run. They've been dragging this out for so long it is unbelievable! The money belongs to policyholders, not shareholders. I have known for a long time that there will be a shortfall on the policy, but since being a Moneysaver I have been paying as much as possible off my mortgage over and above the normal monthly payment rather than paying more into the endowment which was their suggestion. :D
  • Geoffo_MGeoffo_M Forumite
    1.2K Posts
    Part of the Furniture Combo Breaker
    oldwiring wrote: »
    As an oldie ( you're not is my feeling) I'll take the money and hobble;).
    I have a ex CULAC with profits bond taken out 1097,

    Crikey - you took the policy out in 1097 - you are an oldie!!
  • oldwiringoldwiring Forumite
    2.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Geoffo_M wrote: »
    Crikey - you took the policy out in 1097 - you are an oldie!!
    Oh I forgot to say the initial investment was 16000 groats plus damsel ransom tax of two sheep:D
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