Axa Sunlife- Cashbuilder Plus

dunstonh

i am entitled to claim against miss selling any advice

You are not entitled to claim for mis-selling advice as this product was not sold through advice channels. Advisers had stopped selling these types of plans years before. Even the tied salesforces had pulled out by 2000.

If you dont use an adviser, you cannot complain about bad advice. However, if you bought in the window of a certain advert which was deemed to be inaccurate you can request they cancel the plan and refund your premiums plus interest (a very lucky break for a lot of people who would never even have read the bit in question!). The details are earlier on the thread.

saggi

Hello everyone. I need some help please as i am in total shock after reading these threads and i phoned AXA up yesterday to cash in on my AXA Sun life with Profits fund which i can cash in after 10 years. I have payed in £8 a month for ten years which comes to £960 but was told by AXA that i will only get £48. I am in shock. I have received no info from AXA like many of you and i can not believe what i am reading in these threads. Please can anyone help me.

saggi

Hello everyone. I need some help please as i am in total shock after reading these threads and i phoned AXA up yesterday to cash in on my AXA Sun life with Profits fund which i can cash in after 10 years. I have payed in £8 a month for ten years which comes to £960 but was told by AXA that i will only get £48. I am in shock. I have received no info from AXA like many of you and i can not believe what i am reading in these threads. Please can anyone help me.

pizzagirl

You must genuinely be in serious shock as you've posted the same thing twice

I know AXA policies are bad but are you sure it's only worth £48? Although given their rip-off charges they may have eated up all of your small contributons so far. I definitely wouldn't pay any more money into this rubbish plan.

dunstonh

I have payed in £8 a month for ten years which comes to £960 but was told by AXA that i will only get £48.

Are you sure its the same type of plan that is being referred to in this thread?

confuzz

Thanks you all For this Forum i just got £459 more than they first offered me because i complained they tryed to fob me off at first tho i had to talk to 3 different people before i got a number for the bristol office as soon as i said i had contacted the FSA they got scared and payed up im so happy

KAJW

Hi, I have just read all of your comments and really need some help. I have this Axa plan which runs from 2000 to 2015. What are the dates which you can claim your money back for their false advertising? I have been paying £40 to them for nearly 10 years and now I'm worried it has all been for nothing. I know I need to call them but I need to be prepared so they don't try and fob me off.

Please help

dunstonh

What are the dates which you can claim your money back for their false advertising?

It wasnt false advertising. It was an error in the figures that almost certainly would have had no impact on your decision to proceed or not and most wouldnt have spotted it. However, the error gave a get out of jail free card to all those that bought between February 2002 and January 2004.

As you bought in 2000, the ruling discussed on this thread would not apply to you I'm afraid.

KAJW

Thank you, is there anything else I can do?

lingwood

I have just been lucky enought to claim back my money under the "get out of jail card"

Like Dunstonh say the error would not have chnaged my decision to start the plan, but hidsite would have.

I started my plan back in 2003, on the £20 and I am just in the second year of My £40, so total paid in ~£2300, cash in/surender value offer was £1700, but I wrote to them and quested the FSA ruling, but first letter they ignored my letter and just sent back a forum for the cash in value.

I wrote them another letter and they have just informed me that I will get back all my money (- the first 1/2 year) + bonus + 1% above base rate intrest (minus 20% tax)

Very pleased I am.

Older and wiser now, over the years since this I have followed Martains advise and this forum and now consider myself a good saver, so to finaly get rid of this stigma is great.
http://forums.moneysavingexpert.com/showthread.html?t=160533