FriendsLife

mummy_robinson

My Advisor didn't go into that much detail to be honest, but there are so many illnesses it would take a long time to go through every one. I am confident it is a better policy than Aviva just wanted re-assurance and that it wasn't just me that thought that. Yes we have been quoted with our family history. And the Lovely lady did a comparison. Thanks for all your help.

weighty1_2

kingstreet wrote: »

It takes me two hours to compare the definitions from the current plan when it was effected with the definitions from the new plan which is currently available.

I recently completed a comparison of definitions for an Axa plan from 11/2009 with a new Friends Life equivalent and it was very close between the two.

I'm surprised at this. Presumably the AXA plan at the time would only have had 6 or possibly 9 ABI+ definitions, the Friends Life plan has 14, including stroke and cancer. The Friends Life plan also covers a considerable number of conditions on which a partial payout can be claimed

kingstreet wrote: »

Imagine being told you could have claimed for that heart attack under you old policy, but not your new, better one...

That's one of the few conditions which MAY be more difficult to claim on nowadays than existing plans due to the need for specific troponins to be recorded above a certain level, however, in most cases the definitions have definitely improved over time.

Aviva have never offered a particularly comprehensive CIC plan, in fact it is currently about as good as it has ever been in comparison to its competitors.

Sounds to me like the MAB advisor has recommended a very good product and not done so solely on price, as Friends Life are never the cheapest

kingstreet

As time's gone on, the differences have become smaller and smaller, so you're now debating the slightest variation. The longer ago the plan was issued, the more vague the definition tended to be.

ACG has a point about sternotomy. Some older plans didn't accept keyhole surgery and a sternotomy was always required. The better plans now allow a claim when either is used.

I like and use the FL contract and wouldn't say I'm a big fan of the old Aviva contracts. I just don't like the idea of an adviser saying 37 v 31 means the one with 37 is better. It may be better overall, but it may cause a loss of something important that the client needs to be aware of and accept in advance.

I'm sure those of us who post on here wouldn't just use the numbers argument, but that may not apply to others out in the big wide world. I wonder how the banks' advisers approach this when they rebroke onto their somewhat limited offerings?

ACG

I used to work for Friends Prov, we never had the most conditions and we were never the cheapest but we had the best IP contract on the market - i still believe in selling the best. But at the same time i realise its not my money im spending so sometimes there has to be a compromise.

kingstreet

ACG wrote: »

I used to work for Friends Prov, we never had the most conditions and we were never the cheapest but we had the best IP contract on the market - i still believe in selling the best. But at the same time i realise its not my money im spending so sometimes there has to be a compromise.

TBH I got the impression the FL contract was based more on the old Axa contract, rather than the FP one. You've spent more time on the FP one though, so I could be wrong.

ACG

To be honest, i think its based mostly on the Bupa contract. There are some things that have carried over from FP, such as NHS Drs scheme, hospital benefit etc but i think they have taken bits from all and added to it and thats what we have.
From what i heard in the meetings we had i think they bought axa/bupa just to get some companies out of the frame so there is less competition.

Steve_Warwickshire

Seriously not impressed with FriendsLife.
I have a pension with them,I suffer from a lifelong illness & the FSA have told me that even though I am below 55, I am 50, I can have a tax free lump sum of 25% of my pension.

I received the paper work needed to allow me to claim the 25%,got confused so phoned FriendsLife & explained very very clearly what I wanted & asked if the advisor could talk me through it,which she did,I enclosed a Doctors letter and sent it all off.

so far, I have received something like 4 copies of exactly the same form, so I complained.

I spoke with an advisor who chatted with her manager, they both confirmed, 2 weeks ago,that I would be holding a cheque within 11 days.

I then received a phone call saying that I had to complete exactly the same paper work.

I told them that I will complete it,but if I do,and do not receive payment,which I have offered my bank details for a BACS transfer by Friday 24th August,then on Tuesday 28th August I will be lodging a formal complaint with the FSA.

maybe I should have used something more competent & not annoying,.........like a piggybank.

dunstonh

I have a pension with them,I suffer from a lifelong illness & the FSA have told me that even though I am below 55, I am 50, I can have a tax free lump sum of 25% of my pension.

Rule changes made in 2006 increased the minimum age to 55 from April 2010.

The exception is where you have a sufficiently severe enough illness. In this scenario, the pension provider will normally write to the GP to verify information. That can take a couple of months in some cases.

I told them that I will complete it,but if I do,and do not receive payment,which I have offered my bank details for a BACS transfer by Friday 24th August,then on Tuesday 28th August I will be lodging a formal complaint with the FSA.

The FSA do not handle complaints. All the FSA will do is forward your letter to Friends Life to deal with.

Is your pension a Friends Provident or old AXA Sun life pension? Administration is still handled by the legacy offices but is consolidating in some areas. From experience, one office is much better on admin than the other.