AXA Sunlife Bonus Cashbuilder Plan

me,myself_and_I

Thanks for starting a new thread,I found it really helpful !

nashe74

just received my money this morning from axa sunlife


Cashbuilder

took out oct 1998

total put in £3280.00

paid out £4722.63

no where near what was projected but happy i got more out than paid in:beer:

Mr_K

A free Parker pen though ! I can but dream.... Do they still do the offer?

vladavere

I started my plan in 1998 at £20 a month going up to £40 a month over 6 years and then stay at £40 for the following 9 years. I paid in £6360 and am getting £9425 , well worth it in my eyes. The biggest amount was the final bonus.

bigadaj

vladavere wrote: »

I started my plan in 1998 at £20 a month going up to £40 a month over 6 years and then stay at £40 for the following 9 years. I paid in £6360 and am getting £9425 , well worth it in my eyes. The biggest amount was the final bonus.

That probably hasn't matched inflation, probably inferior to a savings account and certainly would have done better in a unit or investment trust but if you are happy with it there's no problem.

HJC1972

bigadaj wrote: »

That probably hasn't matched inflation, probably inferior to a savings account and certainly would have done better in a unit or investment trust but if you are happy with it there's no problem.

Mine's just maturing too. £20 pr month over 15 years. Grand total of £3600 in and a payout of approx £4700.

I only realized these investments are a dog when it was nearing maturity (not been too hot on keeping track of these things). I know what you are saying about not keeping pace with inflation and all but given the appalling reputation these products have I think both myself and your previous poster could have come out a lot worse.

j0nathon2

On assumption that vladavere paid £20 for 24mths then went up £5 a year to £40 in month 1 of year 7, that would be an equivalent of approx 5.6%pa?

And for HJC1972 approx 3.5%pa?

Certainly could have done better, equally this product could have, and has done, a lot worse!

HJC1972

Now that poses another question then. As both Vlad and I had our policies running almost concurrently why have they not produced the same, or as damn near as, interest return?

As an aside, looked at purely as a percentage return, 3.5% over the last fifteen years is rather pi$$ poor, ain't it.

j0nathon2

It is poor, and I would never use or recommend such a product, but some people appear to get back a few quid more than they paid in, if not less, so at least you made some kind of return.

These products also don't pay interest, I just worked out the equivalent.

I don't know how AXA calculate bonuses: but assuming bonuses are based on contributions + bonuses to date (and I don't know if they are) the bonuses would get further apart as your bonus is based in part on the bigger bonuses already applied, and after 2 years vladavere will have more contributions. Plus only a month apart could have a difference.

Mrstickle

I have just found out my husband has one of these plans!! It was registered to his old parents address so he has never had any recent correspondence but the direct debit continues.

On the telephone, I have discovered he took it our on 8th April 2003. It is due to mature in 2018.

He just assumed it was a good savings scheme after his dad saw it on the telly:eek:

I have asked them to send me the following:
Total premiums paid in
General policy details
Current surrender value
Maturity projection

At the very least, I'm assuming we should cash it in asap and hopefully get back what we paid in?

But I'm wondering if anyone could advise if we fall within the period when it was mis-sold? I've seen these previous threads about the complaints, is there any further reading someone could advise?

I don't know anything about the scheme, but the thing I'm most baffled about is I've discovered it is a policy with life cover - at the time he was a single bloke, no dependents, living at home with his mum?!!!! Surely that is a case for being mis-sold?

I know I need to wait for the figures to arrive (he gave me dozens of figures on the phone and it was a bit baffling), but am wondering if anyone can suggest what I need to do, and if a complaint is worthwhile? Or just cash in asap?

Thanks!