Aviva reattribution

theirhavingalaugh

I have had a £34,500 endowment for 18 years, although it is only likely to pay £20k. Aviva have asked me to vote yes to their reattribution - offering me £373.00. Is this a fair offer and should I TAKE IT?:cool:

dunstonh

Is this a fair offer

You get what you are given based on value and timescale. £200 is the minimum. I have seen some over £5000. Endowments are typically low value so you wouldnt expect much more than the minimum.

should I TAKE IT?

almost certainly. Its not likely that there will be another distribution for 10 years. Yours would have matured by then so you may as well take it now.

MiloH

theirhavingalaugh wrote: »

I have had a £34,500 endowment for 18 years, although it is only likely to pay £20k. Aviva have asked me to vote yes to their reattribution - offering me £373.00. Is this a fair offer and should I TAKE IT?:cool:

Asuming it's a 25 year endowment with 7 years left to run, I would say that it was a good deal for you. As dunstonh says, chances of them making a Special Distribution within the next 7 years are slim, and according to the Policyholder Advocate's figures, even if they do there's a good chance it won't be as much as your £373.

So basically they're giving you money to buy out your right to something that you are unlikely to get anyway! It's not so much that the offer is fair; it's actually weighted in your favour.

On the other hand, if your term was initially 30 or 35 years and you could be in it for 12 or 17 years, your choice might be different.

oldwiring

Apparently there's been a c### up with the payments' calculations.http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5873065/Aviva-technical-error-sees-policyholders-given-wrong-pay-out.html

yelf

yes yes you should vote yes. as above

oldwiring: "although this overstatement will be honoured." -

oldwiring

I chose to let the members read that for themselves in the link provided.