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Zurich Vista Plan
fds333
Posts: 1 Newbie
I am after some advise.
I took out a Vista policy with Zurich International a few years a go for the term of 25 years. I was told that I could not change the payments or make any withdrawals in the first 18 months and after this period I can change payments, make withdrawals etc...but was never made aware of the fact that I would not be able to close the policy or withdraw the whole amount.
I have been told that to surrender the policy and take my funds I would have to pay the penalty of £26000 and only get back about £6-7000 of my money back.
Is there anything I can do with this policy... is there a way out without having to forfeit my money?
I took out a Vista policy with Zurich International a few years a go for the term of 25 years. I was told that I could not change the payments or make any withdrawals in the first 18 months and after this period I can change payments, make withdrawals etc...but was never made aware of the fact that I would not be able to close the policy or withdraw the whole amount.
I have been told that to surrender the policy and take my funds I would have to pay the penalty of £26000 and only get back about £6-7000 of my money back.
Is there anything I can do with this policy... is there a way out without having to forfeit my money?
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Comments
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Hello, fds,
I took out a Vista policy with Zurich International a few years a go for the term of 25 years.
Why? It looks a horribly expensive product - what was the reason for purchasing it?
It's all there in the policy documents...did you not have sight of these before signing up? Here's a link.I was told that I could not change the payments or make any withdrawals in the first 18 months and after this period I can change payments, make withdrawals etc...but was never made aware of the fact that I would not be able to close the policy or withdraw the whole amount.
Again, this would have been made clear in the illustration you were ( or should have been ) given at the start. Are you sure about those figures though? That really does look horrendous. ( ETA - it looks as though your first 18 months' worth of payments go entirely toward paying charges...)I have been told that to surrender the policy and take my funds I would have to pay the penalty of £26000 and only get back about £6-7000 of my money back.
I doubt it, unless there is a question of mis-selling.Is there anything I can do with this policy... is there a way out without having to forfeit my money?0
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