We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Friends Life letter - too little Terminal Bonus paid at Termination?

Options
Trying_to_be_good
Trying_to_be_good Posts: 1,989 Forumite
Part of the Furniture 1,000 Posts
in Mortgages & endowments
Hello everyone

Yesterday I got home to find a letter from Friends Life to say that they're now the company responsible for Friends Provident and some of AXA's policies.

They say they miscalculated the Terminal Bonus - assume thus is legitimate and not a scam, but couldn't find any references on the forum. 'Friends' and 'Life' feature very heavily in a search, though!

Does anyone know? A few quid extra in the New Year would be very welcome, this was only a small policy in any case.

Thanks
Mortgage Free thanks to ill-health retirement

Comments

  • castle96
    castle96 Posts: 2,978 Forumite
    Part of the Furniture 1,000 Posts
    Had a "we are now looking after your policy" (previously AXA, previously Sun life), some months ago.

    Will be following your post
  • Moonandmoon
    Moonandmoon Posts: 26 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I was with Friends Provident who are now Friends Life. I wasn't sure it was legitimate but contacted the main Friends Life (website number) and they had all my details.

    Background: Had to make a critical illness claim.

    M
  • Trying_to_be_good
    Trying_to_be_good Posts: 1,989 Forumite
    Part of the Furniture 1,000 Posts
    Thanks, folks - have given them a call, fingers crossed it's more than a tenner...
    Mortgage Free thanks to ill-health retirement
  • ACG
    ACG Posts: 24,551 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    I used to work for Friends Provident, they made me redundant when they merged with part of Axa and Bupa - they became Friends Life.

    A reputable company, its not a scam dont worry.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • nikanika0
    nikanika0 Posts: 160 Forumite
    Part of the Furniture 100 Posts Name Dropper
    The company's pension scheme ( I work for ) was managed by Friends Life, because we had Axa / Winterthur and their funds.
    The company' scheme moved to Aviva during summer, and Friends Life is managing winding up.

    very happy with them so far, they keep the info up to date.
  • dunstonh
    dunstonh Posts: 119,646 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    AXA sold their legacy book to Pheonix but did not buy the AXA brand. Phoenix had previously bought Friends Provident. It is merging the AXA and Friends Provident brands as Friends Life.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • TrickyDicky101
    TrickyDicky101 Posts: 3,529 Forumite
    Part of the Furniture 1,000 Posts
    Resolution bought Friends Provident and then bought the Life businesses of Axa Uk (ie Axa Life) and have remodelled the resulting entity as Friends Life. Phoenix is an entirely separate company.
  • dunstonh
    dunstonh Posts: 119,646 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    It was of course Resolution. Not sure why I said Phoenix.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Trying_to_be_good
    Trying_to_be_good Posts: 1,989 Forumite
    Part of the Furniture 1,000 Posts
    Quick update - cheque received for just over £120 from an error in calculating the terminal bonus on this policy. A really nice extra in January - thanks for your help, all.
    Mortgage Free thanks to ill-health retirement
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture