Are Reassure a scam company?

slopemaster

I appreciate the concern, but all I have done is state facts. (I admit that the thread title may be unfortunate, however.)

But, honestly, if they wanted to sue me personally for stating facts, then they would be welcome to the bad publicity!

I imagine that these kind of threats are merely threats, though of course I may be wrong there. But it would be a sad thing indeed if we can't report poor experience with companies.

davidmcn

MalMonroe said:

I was recently a contributor to a thread that contained adverse comments about a named company and someone reported the thread and the company threatened legal action against the site. Although the thread was removed, obviously the comments had already been seen. I have heard nothing further (as yet!) so I am hoping that no further action, although threatened, was taken.

Please just be aware that if you do make adverse comments about anyone, or any company, there is a risk that they will be reported, the site will be sued and the forum will have to be closed. (Oh, and individual commenters could be sued as well.)

(Factual) negative comments shouldn't be a concern, otherwise large swathes of the internet wouldn't exist! And obvious lots of the forum here contains criticism of named companies.

But accusing them of, say, criminal behaviour would be more of a problem (and might be implied by the subject line here).

slopemaster

Well, the copy email I sent to the CEO's address must have worked, as I have already received a copy of the missing letter.

(Albeit from a no-reply address.)

However, the letter is weird. It says I should take financial advice, but this isn't a final salary pension or anything like that with guaranteed benefits. It goes on about the risks of transfrering your pension abroad but I'm not doing that. It then includes a 7-page form with questions like "who regulates the advisor you took advice from and what qualifications do they hold?" "please tell us how you've asked your pension scheme to invest your money" and six different questions about charges.

Surely I don't have to tell them all this?

I am tempted to just write "Please transfer my pension to Vanguard as instructed. I understand the risks and take full responsibility." and then write MYOB or leave blank all the intrusive questions.

However, I don't want to cut off my nose to spite my face - are they allowed to refuse if they don't like my answers? Surely not?

slopemaster

https://www.moneymarketing.co.uk/opinion/hannah-goldsmith-why-im-far-from-reassured-by-this-insurer/

stevesladewski

I'm in the same boat. An ex L&G pension policy holder. It took me 5 months to get my initial 25% tax free lump sum and since November 2022 to date I am still waiting to receive the full and final payment of encashment of MY POLICY. If I had known about the transfer I would have been able to do some research into ReAssure and get MY MONEY before they did. I've been onto and given the FOC all corresspondence between myself and ReAssure their response is 'For the reasons set out above, I believe that ReAssure’s explanation and total offer of compensation is fair and reasonable and that no financial loss has been caused by it. As such I cannot uphold your complaint against ReAssure.' unquote. FOC have offered to keep open my case file if I can provide further evidence to do so. I have informed the FOC that I am still waiting for the full and final payment 10 months since my initial request. Would I trust ReAssure Certainly NOT! 

 

Wigglevoom

I find myself living in the Reassure L&G drama over the last few weeks. 

I was given options, GMP per annum plus 25% TF.  

But, I was pointed toward L&G with the Code, the Key.  

All went well, 7th Dec 23 L&G sent the quote, numbers looked ok, compared with Reassure close enough. 10th Dec Access to portal shut down no access, password issues, nope, can’t reset. Can’t see values etc. 

Jan 20, I ask L&G for an update. All good, be with you soon. 

30th Jan reassure send email, we have been trying to contact you (no) call us. 

We need to let you know, with our charges and L&Gs decision your Tax Free component ha changed, it will now be £35% less than the quote they issued.  I called L&G immediately, confirmed on the phone, double confirmed, asked based on what?  Market conditions.  Tax free is based on fund value, I don’t know what my fund value is, but I don’t think it’s dropped that significantly in 4 weeks?  

I can’t access my Reassure portal, coincidently shut down, I managed to get logged in again today to find Policy Terminated in bold Red letters.  

Although Reassure stipulate your Options, truth is there’s a nasty deal going on between them to make it very difficult to action any option other than L&G.  

On going, the battle commences.  

dunstonh

Although Reassure stipulate your Options, truth is there’s a nasty deal going on between them to make it very difficult to action any option other than L&G.  

You are not required to use L&G unless the GMP cannot be achieved via the open market.

L&G significantly dropped their annuity rates late Dec/Early Jan.   So, its more likely that it is the annuity rate that is the issue and not investments (which are up over Dec/Jan).  L&G servicing has fallen off a cliff at the same time.

The tax free cash entitlement can be reduced to meet the GMP.

Wigglevoom

Thanks so much for the reply, it’s good to know someone is out there.  

Yes, looks like that’s what happened. Tax free  reduced to cover GMP.  

So much for the value of the quote, they had to wait a month, so it had expired,  that's why I didn’t receive any notice. With regard to other quotes. (Seems when you mention GMP it’s like a bad word). 

Option’s currently No Tax free cash, and take Annual GMP. This will be fun. 

Agreed on L&G service, I’ve been waiting for a call back all day.  Portal still says Picy Terminated.  

😊😊

Elbowgreece

We have a Grandchildren’s trust fund in Reassure, originally with L&G. Transferred some years ago. The first child should have had her money 4 years ago!  Our FA has been assisting us with getting the money paid out, continued difficulties have been made to the extent we had to raise a letter from a law firm, £1000 bill!. Many forms have been filled in by us and the recipient to no avail, they now say the claim has expired, taken too long. We are exasperated!

kingstreet

Elbowgreece said:

We have a Grandchildren’s trust fund in Reassure, originally with L&G. Transferred some years ago. The first child should have had her money 4 years ago!  Our FA has been assisting us with getting the money paid out, continued difficulties have been made to the extent we had to raise a letter from a law firm, £1000 bill!. Many forms have been filled in by us and the recipient to no avail, they now say the claim has expired, taken too long. We are exasperated!

Blimey, have you complained and escalated to FOS after the usual outcome letter?