AVIVA Final Bonus Announcement

Robert_Tycelyn

Having three endowment policies with Aviva I was aware of a general announcement in July from them that final bonus payment had yet again been reduced. Nevertheless I took this information in my stride an accepted that the shortfalls would be even lower than I expected.

However, in a moment of boredom today I found my copy of the Jan. 2009 final bonus tables and decided to find the recent July tables on Aviva's site to see the 'damage'.
Little surprise to see that the first policy had reduced from £260 to £230 (based on sum assured of £10100), the second from £225 to £0 (thankfully based on only £1700 sum assured) and.....wait for it.....the third policy from £210 to either £0 or £675 depending if the policy was taken out after 1 July 2009. Now this is based on a much larger sum-assured of £30000 - so this could make a major difference depending on which bonus payment is used. MINE WAS STARTED ON 9TH JULY 2009. Wow!!!!

Aviva quote:" Why are there two final bonus rates for 1992 plans?

There was a significant premium basis change during 1992. As a result the with-profits benefit for a given premium is different for those plans taken out before and after the premium basis change and hence the difference in final bonus rates"

I know these final bonuses cannot be guaranteed for 2012 when mine mature but I am seriously cheered up by this news. I hope that there may be other Aviva 1992 'investors' who may also be affected by the good side of this news.

Cannon_Fodder

I think you mean STARTED in 1992...

Robert_Tycelyn

Cannon_Fodder wrote: »

I think you mean STARTED in 1992...

My post should have read( - thanks Cannon Fodder):

Having three endowment policies with Aviva I was aware of a general announcement in July from them that final bonus payment had yet again been reduced. Nevertheless I took this information in my stride an accepted that the shortfalls would be even lower than I expected.

However, in a moment of boredom today I found my copy of the Jan. 2009 final bonus tables and decided to find the recent July tables on Aviva's site to see the 'damage'.
Little surprise to see that the first policy had reduced from £260 to £230 (based on sum assured of £10100), the second from £225 to £0 (thankfully based on only £1700 sum assured) and.....wait for it.....the third policy from £210 to either £0 or £675 depending if the policy was taken out after 1 July 1992. Now this is based on a much larger sum-assured of £30000 - so this could make a major difference depending on which bonus payment is used. MINE WAS STARTED ON 9TH JULY 1992. Wow!!!!

Aviva quote:" Why are there two final bonus rates for 1992 plans?

There was a significant premium basis change during 1992. As a result the with-profits benefit for a given premium is different for those plans taken out before and after the premium basis change and hence the difference in final bonus rates"

I know these final bonuses cannot be guaranteed for 2012 when mine mature but I am seriously cheered up by this news. I hope that there may be other Aviva 1992 'investors' who may also be affected by the good side of this news