AXA Sun Life RIP OFF!!!!!

j0nathon2

Isn't Michael Parkinson at it now too.

And let's not forget the Unions, Newspapers, Magazines et al who take money to stick fliers for the unFriendly Societies in their literature.

talexuser

Glen_Clark wrote: »

These money grabbing celebrities disgust me.

One of the worst has to be Michael Parkinson.

bigadaj

Well to be fair nobody does anything without getting paid. Wogans fee for children in need was supposedly very large.

Robinov11

Looks like i may well be seven years too late on this one and missed the bus somewhat. Due to laziness on my part rather than go looking through my file to find the address for this policy to send a change of beneficiaries request i came across forum after forum of problems i was oblivious too.
I took out this policy in October 2002 and therefore upon reading page after page of issues fall into the mis sold policy group, is this too late to be beneficial to me now? I have just completed my 11th year and as much as i could actually do with the policy making some cash, albeit it apparently small , it seems this is more than likely not to happen.
As i said i had no idea about all these issues, i clearly stupidly opened the policy with the birth of my son and left it without thinking about what would happen. Upon seeing these forums i have done the maths and stand to only be guaranteed just over £5000 from a £6500 investment.
Do i call, like many others and request the terminal amount currently? Call and ask what closing it now would give me? potentially quoted the mis selling of 02-04! or bite the bullet and hold on?

Petermcblaster

I took a axasunlife cashbuilder policy out on the 28 january 2000, it matures on the 28th january 2015. The plan was 10.00 in the first year increasing each year, once it reached 5 years it was 20.00

Ive had a letter saying that at maturity in january the plan will pay 1,500. Which is less than the min sum ageed which is 2,400. I was expecting more than the 2,400 nevermind 1,500 as this does not even cover the premiums.
I feel that i have been missold this policy, and do not understand bonuses, interest etc, any advice appreciated

paullwill8 wrote: »

Hi all.
I remember reading a post about Axa Sun Life Policies being rubbish, this was a couple of months back.
Anyway after the slagging they got I decided to ring them and surrender mine.
It had only been running for just over 2 yrs, started at £20 month and slowly got higher, recent payment being £28.
I reckon I have paid around £520ish in, they have said I am entitled to £105.
Could not beleive it, is this correct, not at all clued up on this sort of thing, but how can this be right. They have stolen my money as far as i'm concerned.

eranou

Petermcblaster wrote: »

I took a axasunlife cashbuilder policy out on the 28 january 2000, it matures on the 28th january 2015. The plan was 10.00 in the first year increasing each year, once it reached 5 years it was 20.00

Ive had a letter saying that at maturity in january the plan will pay 1,500. Which is less than the min sum ageed which is 2,400. I was expecting more than the 2,400 nevermind 1,500 as this does not even cover the premiums.
I feel that i have been missold this policy, and do not understand bonuses, interest etc, any advice appreciated

Where did you get the figure of £2,400 from? is it shown on the policy documents as the sum assured?

An Axa sunlife bonus cashbuilder plan is guaranteed to pay the sum assured on maturity plus any attaching bonuses,

Have you payed all premiums throughout the contract? as if you have stopped premiums the policy will be on a paid up basis with a reduced sum assured.

5erge

I've been reticent concerning the horror stories about this policy but I stuck with it.

15 year, £50 start off then up to £100 a month, matures Feb 2016.

Phone the other day for a surrender value as it stands now and was pleasantly surprised, £32,686. If I let it mature @ 1.5% I'd be getting another £1800 but I'd have to decuct £1200 in payments meaning it is only £613 more than what I'd be getting currently. At 7.5% growth I'd get an additional £3000.

I'm curious as to what everyone's growth has been for policies maturing late 2104? Tempted to take my surrender value and run.

westy22

I'm curious as to what everyone's growth has been for policies maturing late 2104?

That is a very long time away

5erge

westy22 wrote: »

That is a very long time away

Ha ha, yes, that's how long it's felt!

Any details from anyone's policy matured in the last 6 months

eranou

5erge wrote: »

Ha ha, yes, that's how long it's felt!

Any details from anyone's policy matured in the last 6 months

Annual bonuses for these plans are currently 2%, once added annual bonus cannot be taken away although future rates are subject to change.

Terminal bonus is 250% but can be changed at anytime.


A client that has this type of policy, paying £20 per month has just had maturity pay out at £4761.24