The Endowment Diary

The Endowment Diary

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The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Friday, February 24, 2012

Aviva Policy Holders Expect Shortfall

Aviva looks set to let down around 71,000 of their endowment policy holders this year, as it has cut its bonuses thus "gifting" 70,000 policy holders whose General Accident and Norwich Union policies (both part of Aviva)  mature this year with a shortfall.


9 comments:

  1. Anonymous3:01 PM

    I wish I had terminated my policy 10 years ago!!

    Why aren't the FSA demanding that Aviva pay a fairer share of their profits on these policies?

    ReplyDelete
    Replies
    1. Anonymous7:19 AM

      Because the 70,000 are not grouping together as an action group. It's the only in this way can we force not only the FSA to act, but also force Aviva act. Individually we all have information that could embarrass Aviva. Example In July 2000 I was given figures that showed that if my policy achieved 6% growth it would mature at just under £40,000, I have now been given a value of just over £30,000. But in a letter I received last week after questioning these figures I was informed that the fund had averaged 6.15% . I have also been questioning the way the bonuses have been paid on the basic sum assured and existing bonus on my CU policy since the takeover of Aviva.

      Delete
    2. Anonymous7:31 AM

      I think all the Aviva endowment policy holders should start an e petition. I have been sending Aviva letters of complaint over many years, but they made us an offer and withdrew it as being an error and have time barred our complaint, we are very disatisfied with Aviva. There is a website to start an e petition and its free, we should do it.

      Delete
  2. Anonymous1:11 PM

    A disgrace I am down 30% on target amount and struggling to get them to pay out. What happened to the funds share out 3 years ago...

    Robbers should be actions taken against all of them...

    ReplyDelete
  3. Anonymous6:00 AM

    30% down also, may loose my house. However on the bright side the final bonus will pay out enough for a few gallons of petrol and matches to burn all of Aviva's offices down.

    ReplyDelete
  4. kristopher7:11 AM

    I would agree, my mortgage is covered since the miss selling debacle, I took out the policy in 1988 for 25 years and it will mature in August 2013, should cover £50,000 but I expect to see about £30,000 a similar 40% shortfall, the payment has been £64.80 during this time so I will have actually paid NU/Aviva £19,440 so it will have taken them 25 years to earn £10,000, gawd they must be the worst fund managers ever, Bernie Madoff where are you?

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  5. Anonymous1:30 AM

    Maybe if the 70,000 of us all complained to the chief executive via Aviva's procedure:
    http://www.aviva.co.uk/library/pdfs/existing-customers/NGNAG1113.pdf

    Or find the London based "Andrew Moss, Aviva chief executive" and deal with him personally.

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  6. Anonymous3:37 PM

    WE need to get all 70,000 policy holders together to demonstrate outside aviva building. We would get good press and give them some bad press. We could use social networking twitter [if I knew how to do it]
    Jane

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  7. Anonymous7:09 AM

    IM IN THEY MAKE MY BLOOD BOIL AND i HAVE NO OPTION BUT TO KEEP PAYING IN AS I WOULD LOSE MORE IF i TERMINATE NOW...

    ReplyDelete