Windfalls at NU 'not for sharing' - Published:15/02/07
News Companies & markets Investing authority portfolio Campaigns Mortgages & homesMortgage featuresInsurance Consumer advice Broadband & phones departure Saving & banking Credit & loans little business Tax & wills Message boards cash blog Tools & calculators Ask an expert Guides contrast & buyNorwich Union with-profits policyholders, in line for possible windfalls averaging as much as £2,000, do not want to share their payouts with anyone elseALL OURS: Norwich Union policyholders have said they should advantage from with-profits windfallsTAKE PART IN OUR SURVEY Tell us what you think of This is Money and assist shape our future (you could even make £35)A ONE-MINUTE MAKEOVER If you only have one minute to learn how to sort your finances, forget the relax and read this>> Our 8-step planThose who stand to advantage under the carve-up of £4bn of extra assets currently locked up in NU's with-profits money have been consulted for their views on windfalls and how they should be distributedThey have overwhelmingly rejected suggestions that sure groups of other policyholders - for instance mortgage endowment savers or those whose tactics have lately matured - should get windfallsThe research has been undertaken by Clare Spottiswoode, the policyholder advocate appointed to stand for NU clientele' interestsOn Thursday, she conducted the last of six roadshows held nationwide More than 200 policyholders gathered at a site in London's West End to vote on a figure of controversial issuesOne question was: 'Should policyholders whose bonuses were poor, but whose plans have matured in the history few years, get windfalls'Of those present, only 25% voted all right compared with 62% who supposed no Spottiswoode supposed this was consistent with previous pollingWith the consultation era now over, her job is to negotiate a deal where policyholders get a pale cash payment in swap for relinquishing their future rights to the £4bn cash© 2007 linked Northcliffe Digital Ltd conditions Privacy policy Advertise with us LoansCardsMortgagesInsuranceCompare the best deals around with This is MoneyPlease choose a loan£ choose a loan term 12 months (1 year) 24 months (2 existence 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 existence 84 months (7 existence 96 months (8 existence 108 months (9 existence 120 months (10 existence GO novel credit cardPick your favoured card offer Please choose 0% introductory rate No annual fee Cashback faithfulness scheme All of the above GO Balance transferPlease choose a type of insurance Life insurance Home and contents Car Breakdown armed forces physical condition - medical physical condition - dental Travel Pet - dog.
Read More:
Windfalls At Nu 'Not For Sharing' >>
Norwich Union: Wet conditions worse for accidents - Published:30/01/07
Perhaps unsurprisingly, accidents that occur in damp conditions on Britain's roads cost more than those that take place when the climate is rain-free, according to Norwich UnionThe average cost of damp weather accidents is 27 per cent more than dry condition incidents and this could be due to the fact that UK motorists will only somewhat adapt their driving styles to the greasy road, says Eric Nelson, spokesperson for Norwich UnionMr Nelson remarked: "The wettest days consequence in a 40 per cent increase in accidents Again you are considering there grip and visibility When it has rained a group we are seeing that drivers only slow down by 3 to 4 per cent when it is raining and they are not increasing their stopping distance"He went on to speak British drivers should start adapting their driving styles to the conditions of the road in order to cut down on the amount of accidents occurringWhen buying Norwich Union car cover online, customers can save up to ten per cent and are.
Read More:
Norwich Union: Wet Conditions Worse For Accidents >>
'My endowment nightmare' - Published:04/11/06
John stir, 54, takes the promises of the UK life cover industry with a hefty pinch of saltJohn, like many other endowment mortgage holders, is learning the firm way that a sure thing is rarely what it seemsWhen John and wife take legal action bought their four-bedroom detached in Chesterfield for £125,000 in 1996, they relied on an endowment bought in 1987 to cover their £65,000 mortgage"I was told that it could pay off a mortgage and provide a tidy lump figure at maturity," he said"Endowments now seemed the way to go, everyone seemed to have one When your house is on the line you assume that the guarantees on proffer are copper bottomed""This is overwhelming - I may have to take out a loan at the age of 61 My wife and I are leaving to have to work until normal departure age and perhaps even a little beyond"The mortgage holder invests cash into a separate endowment fund to pay back the underlying debtunluckily a combination of stock market volatility and lower interest rates has supposed that endowments have underperformedThe Financial Services power (FSA) has ordered insurers to issue letters to consumers, caution them of any potential shortfallAll people who have an endowment should by now have received at least one or two "re-projection letters"Green means the donation is on target, amber strikes a note of care and red indicates a probable shortfallThe usual grounds for a mis-selling claim are that the endowment holder was promised that their mortgage would be paid off, or were not informed of the investment dangerAs a result, he is not entitled to take a mis-selling claim to the Financial Ombudsman overhaul"They have washed their hands of my complaint, writing that as I bought it through a financial adviser they had no blame for my position""I could take Norwich Union to court but I can't afford to do it I feel as if the whole system is geared towards insurance firms and not consumers"In the usual course of events John and take legal action would be able to take solace in the piece of information that rising house prices would mean that they had made a profit on their homeHowever, in the cruellest wind of all, their home has subsidence and is currently worth less than they waged for itWatchdog replies FOS replies 1 CA replies Pre-1988 sales 1 FOS replies 2 Shortfalls duty Pre-1988 sales 2Region East AngliaEast MidlandsGreater.
Read More:
'My Endowment Nightmare' >>
