Axa pays up on Sun Life Direct over-50s’ policy after Twitter appeal
Former_MSE_Michael
Former MSE 95 Posts
"A MoneySaver has won a fight for her mother's life insurance fund after tweeting Martin Lewis..."
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Axa pays up on Sun Life Direct over-50s’ policy after Twitter appeal
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Axa pays up on Sun Life Direct over-50s’ policy after Twitter appeal
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However, what this does highlight that paying via non automated methods carries risk as technically, AXA did nothing wrong. If the mother had survived say 12 months and no payment then a payout would be unlikely.
its schemes like this that put people off. especially if more money was paid in than paid out.
thats why a general savings account is probably better.
thats what im doing
I wonder when they are going to start using Robert Kilroy-Silk? He must be getting old enough to match the demographics.
As long as there are widows to charm, there is a job for smooth talking jocks like him.
Carol Vorderman is ready to step into Gloria Hunniford's shoes, I see.
The terms say they won't pay out if a payment was missed - and that's what happened. So, technically, the relative is wrong to say it is money "they were owed" - they weren't.
But it's nice that the story had a happy ending.
Like trying not to pay because of a missing signature?
Fetch the sick bucket.
Depends on how much time is available to 'nip' into the post office /high street, and wait for Royal Mail to deliver.
Not Buying it 2015!
Or have a proper underwritten life assurance policy instead.
These over 50s plans are an option of last resort. However, they are not marketed as such.
"Some" of your monthly contributions were ACTUALLY invested. As usual, the first year or so of contributions went straight into the commission pot, but under a high inflation, and therefore high return environment, plus tax incentives because it's inside an insurance policy, what you got back was respectable. The pay out if you die was a sensible financial planning tool. Our house was £27,000 in 1977, so if we got a pay out of £10k, the mortgage was at least halved. Nobody died.
Now that there are no tax incentives, and investment return is lower than the charges, the only way to win is to DIE, in the first year or so. Take out a policy and then go on holiday to Jerusalem?