royal life - who do i complain to?

jovielle

Hi,

Well, after putting it off for 2 years and 11 months, am finally getting round to complaining about our endowment.

It was bought from Royal Life in 1987.

The last warning letter was from Royal & Sun Alliance in March 2005. But I've been reading on the boards that the company has changed again?

We haven't received any other correspendence since the March 2005 letter.

I don't know who I'm supposed to complain to.

Any help is much appreciated, as I really should be studying for exams at the moment, because I'm sorting it out for my parents.

Thanks

Tahiti

I think Royal & SunAliiance were taken over by Phoenix, who in turn are owned by Resolution Life. That might be a good starting point assuming you hold policy numbers etc. Try this number for Phoenix - 0845 7883311.

Hope that helps!

EdInvestor

Hi Jovielle

Ring up Phoenix and ask who is responsible for the sale of the endowment to your parents ( aslo ask the surrender value and any other detials you don't have, see below).


Then post the details of the endowment. It's likely they should surrender this policy.

Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
Maturity date

jovielle

Thanks for the advice.

Phoenix are closed for the bank holiday, so I can't find out the surrender value at the moment.

I'll ring on Tuesday about that, but I'm going to post the letter tomorrow, since the deadline is April 25th Yeah I know, I shouldn't leave things so last minute...

Hm. I don't actually know what all of the terms you wrote mean (including surrender value )

Maturity date: 23/10/2012
Monthly premium: £83.12
Total bonus earned to 31/12/04: £12830.15
Basic benefit: £17213.00
Target amount: £56250.00

Projected shortfalls (dated March 05)
at 3.75% each year: £18750.00
at 4.5%: £16950.00
at 5.25%: £15050.00

It's a Homebuyers Plan bought from Royal Life. I don't know if this might complicate matters further, but the endowment/mortgage is linked with my dad's life assurance, and the National Home Loans company (I still don't quite understand everything - just about got my head around the endowment thing - but I know we also get letters from the Home Loans company).