GUARANTEED WITH PROFITS FUNDS VALUES

epsilon4900

The plot thickens. I looked back at notes I made from calls with various Phoenix Life staff and one clearly states that the WPF is supposed to be guaranteed to grow by 4% before the bonus is calculated. If that is correct and I was not misadvised then that must mean that the WPF component of the transfer value has to rise from year to year. This was clearly not the case in one comparison between 2021 and 2022. So if that is correct then there is something wrong. I am pursuing the complaint with Phoenix Life.

dunstonh

The plot thickens. I looked back at notes I made from calls with various Phoenix Life staff and one clearly states that the WPF is supposed to be guaranteed to grow by 4% before the bonus is calculate

4% before charges and any final bonus.   But the annual bonus is not on top.  Only if the annual bonus exceeds 4% after charges would it pay more.    Most of these plans with guaranteed growth rates pay little or nothing in final bonus.

epsilon4900

dunstonh said:

The plot thickens. I looked back at notes I made from calls with various Phoenix Life staff and one clearly states that the WPF is supposed to be guaranteed to grow by 4% before the bonus is calculate

4% before charges and any final bonus.   But the annual bonus is not on top.  Only if the annual bonus exceeds 4% after charges would it pay more.    Most of these plans with guaranteed growth rates pay little or nothing in final bonus.

Thanks. It's just the idea that something can be guaranteed to grow by 4% and yet appear to fall in value? I need Phoenix to explain to me exactly how the components of the policy actually work. WPF, 4% of what exactly and the terminal or final bonus which is paid on transfer or realizing the asset. So far they have totally failed to come forward with this explanation and it has been dragging on for weeks now. Pathetic.