Aviva endowment

worried-ips

Hello there

Hope someone can give me some advice. My endowment with Aviva ended on 7 July this year. Too date I have received no money! I had a letter from them two weeks before the maturity date stating that the £8,500 endowment had an estimated value of £7500. I knew there would be a shortfall and this is about what I thought it would be, however, I have since been told on the phone that it is now worth £5,822. I have made contact with someone at Aviva who told me that these policies were worked out offshore!! and that she had phoned them as she also believed something didn't add up. How do I know that the figures I finally receive are correct and how much should I charge them for holding on to my money when the Building Society is asking for it back!! Hope someone can help.

dunstonh

Aviva have been a bit slow on maturities recently but usually the problem is where the policy is assigned or they have to do a maturity money laundering verification check and you havent given details.

I suggest you phone them again and ask them what the hold up is and if they cant tell you then ask to be put through to their complaints team and raise the delay as a complaint.

ukcarper

I had a similar problem at the beginning of the year and made a complaint through their complaints procedure. The endowment was paid quite soon after that and I received M&S vouchers as a goodwill gesture, which I was quite happy with. But as the endowment was paid directly to my mortgage provider I never got a breakdown of how the final figure was arrived at. Aviva have recently reduced their final bonuses again, which could explain the difference.

worried-ips

Thanks for the replies but I have phoned these people sometimes twice or three times a week. I was told by a manager at Aviva to lodge a complaint and that I would be given compensation but how long is it reasonable to wait. We were told that payment should be made 5-10 days after maturity date and tomorrow is four weeks! I can't believe that I have lost over a £100 a day from the date of the letter to maturity date. Can this be right?

dunstonh

how long is it reasonable to wait.

no more than 30 days and expect to have interest added to the maturity value.

worried-ips

Hello There

Back from holiday and good news! Instead of the promised £5822.50 I have had deposited in my account £7037.65 which is an increase of over £1200. Apparently they worked out figures again in this country manually and have subsequently increased our endowment and although it hasn't reached it's target it is about what we expected. I now have to fight for the interest for late payment and the endless phone calls. I'll keep you all posted and thank you for your advice.