Axa Sunlife- Cashbuilder Plus

tyrosteve

Hi, I have just got my bonus certificate for 2013 . Your thoughts please.
When my policy matures in 2016 I will by then have paid in £6360.
Today I have a guaranteed sum of £4398 plus bonuses of £2272 if it does not rise by another penny. My dilemma is that the current rate of final bonus is 230% (it has risen year on year for the past few years). I think it is worth leaving do you?
Also I would like to add that I would NEVER have put £40 per month in any accessible account and not touched it for 15 years no matter what interest it was making and nor would the majority of people , so comparing it with such savings methods really does not make practical sense. Do you agree or disagree?

trulys

tyrosteve wrote: »

Hi, I have just got my bonus certificate for 2013 . Your thoughts please.
When my policy matures in 2016 I will by then have paid in £6360.
Today I have a guaranteed sum of £4398 plus bonuses of £2272 if it does not rise by another penny. My dilemma is that the current rate of final bonus is 230% (it has risen year on year for the past few years). I think it is worth leaving do you?
Also I would like to add that I would NEVER have put £40 per month in any accessible account and not touched it for 15 years no matter what interest it was making and nor would the majority of people , so comparing it with such savings methods really does not make practical sense. Do you agree or disagree?

Totally agree that it makes sense to let it mature. Why would you throw away the maturity bonus - especially if its anywhere near the 230% as current. I have a second one of these policies due to mature in 2019 and take the same view as you - I'd never have put that money away each month if I hadn't taken out this cash builder plan. I received a good payout on my plan which matured last year so am well pleased I took these out!

SABBRA_CADDABRA

tyrosteve wrote: »

Hi, I have just got my bonus certificate for 2013 . Your thoughts please.
When my policy matures in 2016 I will by then have paid in £6360.
Today I have a guaranteed sum of £4398 plus bonuses of £2272 if it does not rise by another penny. My dilemma is that the current rate of final bonus is 230% (it has risen year on year for the past few years). I think it is worth leaving do you?
Also I would like to add that I would NEVER have put £40 per month in any accessible account and not touched it for 15 years no matter what interest it was making and nor would the majority of people , so comparing it with such savings methods really does not make practical sense. Do you agree or disagree?

Spot on, leave it in and let it mature
I more than doubled my money which i received this week
Very happy

knotsian

After reading this thread, I phoned up last week about the plan that my late father started for me that is due to mature in May 2015. It started with a £10 per month payment, rising to £20. The sum assured is £2214. Bonuses allotted=£661.85. I was told that it's current value is £4330.01, which includes a not guaranteed interim bonus of £1663.32. I was given an estimated maturity value of £4590 at 1.5% and £4830 at 7.5%. The current rate of final bonus is 230%.

welwynrose

Got my payout last week my final payments were £40 a month walked away with just under £14K

knotsian

innovate wrote: »

You should be asking AXA to put the figures into writing.

I didn't ask them to put in writing last week when I asked for a quote on my initially £10 per month policy last week. They just said that they were going to put it in writing. I received the surrender value quotation today.

It says that the surrender value of the sum assured and any existing bonuses is £2872.05
Interim bonus=£2115.77
Total=£4987.82

It is due to mature in May 2015.

knotsian

Had a letter today to say that my payout will be approximately £5132.78

trulys

knotsian wrote: »

Had a letter today to say that my payout will be approximately £5132.78

Not bad for sticking £20 a month away :j. I don't know why this scheme was considered so awful, looks like all those who have let their policies mature have done pretty well :beer: Only people to lose out were those who cashed in early and threw away the benefit of a maturity bonus.

knotsian

Got my payout today. £5132.78

tyrosteve

just phoned sun life today to ask what current terminal bonus is. It is currently 288%.that is 58%points higher than last year. Mine matures in March2016.( FINGERS CROSSED) At this moment in time it looks like all those people who surrendered their policies have lost out. Who was it who slated these policies to start with.