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[Field Marshal Dr. Opti]

It seems that Watchdog has finally caught on to the scam that masquerades as the Sun Life/Axa over 50 plan. Over the years many elderly people have been duped by this policy. My late father included, who paid into this plan for 21 years, before passing away three months ago

During that period he paid in  well over £3,000. When he died the policy paid out just £1100 . Decrepit has beens, Parky and June Whitfield should hang their heads in shame for putting their names to this one.

By all means apply for the free parker pen if you wish.....but make very sure you're on your last legs before taking out a policy.

My complaint ( on behalf of my mother) is currently in the hands of the financial ombudsman. 

[SJKOO01]

Sorry to hear about your late father’s passing Opti 

Regarding life, health, and accident insurance policies, I've always said they're worth Jack S**t at the end of the day, you pay all that money into, and when it comes to maturing or wanting to take it out, you get the same old story from the 'insurance companies' that... oh well, the interest rate has affected the premium, or the stock market has affected your long term prediction of our initial rate we told you, or some other crook of s**t.

Some years ago I took out some investments using a lump sum of money thinking I'd earn something back on top of it after a 3yr period.  What I actually got back was exactly what I paid into it in the first place, no profit, and a load of excuses as to why I haven't made a profit, and so x3 years waste of time.  I'd of been better off putting it into a savings fund and leaving it.  Hence why I don't bother with life, health or accident policies, because the only winners in this game are the insurance companies who profit off the interest they earn using your money on the 'stock exchange market'.

Oh... and as for Watchdog helping out, don’t hold your breath anything will happen further than them fluffing their feathers up like a peacock, make the ratings look good for the program, can’t see it going any further than that and I bet the FSA will not do anything either!

[the alarming man]

yeah sorry to hear about your dad...but that ad makes it look like it is a really good deal...disgusting

[Field Marshal Dr. Opti]

Sorry to hear about your late father’s passing Opti 

Regarding life, health, and accident insurance policies, I've always said they're worth Jack S**t at the end of the day, you pay all that money into, and when it comes to maturing or wanting to take it out, you get the same old story from the 'insurance companies' that... oh well, the interest rate has affected the premium, or the stock market has affected your long term prediction of our initial rate we told you, or some other crook of s**t.

Some years ago I took out some investments using a lump sum of money thinking I'd earn something back on top of it after a 3yr period.  What I actually got back was exactly what I paid into it in the first place, no profit, and a load of excuses as to why I haven't made a profit, and so x3 years waste of time.  I'd of been better off putting it into a savings fund and leaving it.  Hence why I don't bother with life, health or accident policies, because the only winners in this game are the insurance companies who profit off the interest they earn using your money on the 'stock exchange market'.

Oh... and as for Watchdog helping out, don’t hold your breath anything will happen further than them fluffing their feathers up like a peacock, make the ratings look good for the program, can’t see it going any further than that and I bet the FSA will not do anything either!

Yeah, I think they'll do sweet f*ck all too, GM........They seem to be pretty toothless when it comes to taking on the big boys. Still, until I find out, I live in hope.

[STMO123]

I reckon you've got no chance Opti. Its in BIG letters across the advert "You may get back less than you pay in". Works both ways, you could die after two years and one day.

[tunnie]

I'm interested in the Dulux Gloss "hope you like White" comment they made last week, for this weeks show. I used it when I decorated my flat, its faded badly!

[Field Marshal Dr. Opti]

I reckon you've got no chance Opti. Its in BIG letters across the advert "You may get back less than you pay in". Works both ways, you could die after two years and one day.

Not quite, Steve. It's small print mixed in with with other text where they hope your average myopic pensioner won't find it.

 The BIG print tells you it's only 14p a day blah ...blah..blah.........and you'll get a guaranteed payout......blah ..blah blah

It should also read in BIG PRINT.........YOU WILL VERY LIKELY GET BACK LESS THAN YOU PAY IN. Only about 10% benefit from this policy. The other 90% get shafted.    

[Entwood]

http://www.sunlifedirect.co.uk/Life-Cover/Over-50s-Life-Insurance/Guaranteed-Over-50-Plan

1/2 way down the page :

Affordable premiums that never change   

    You can choose any premium from £4 to £74 a month, as long as the cash sum doesn't exceed £20,000.
    The premium you choose will never go up and your cover will never go down – no matter what happens to your health.
    You simply need to keep paying in every month throughout your life, as if you stop paying, your cover will end and you won’t get anything back.   
    Depending on how long you live, the cash sum paid out could be less than the total amount paid in premiums

My highlight

Seems perfectly clear to me ..

[Field Marshal Dr. Opti]

http://www.sunlifedirect.co.uk/Life-Cover/Over-50s-Life-Insurance/Guaranteed-Over-50-Plan

1/2 way down the page :

Affordable premiums that never change   

    You can choose any premium from £4 to £74 a month, as long as the cash sum doesn't exceed £20,000.
    The premium you choose will never go up and your cover will never go down – no matter what happens to your health.
    You simply need to keep paying in every month throughout your life, as if you stop paying, your cover will end and you won’t get anything back.   
    Depending on how long you live, the cash sum paid out could be less than the total amount paid in premiums

My highlight

Seems perfectly clear to me ..

Hardly big print is it. Why so shy?

I fully expect to have my concerns dismissed by the financial ombudsman, eventually. However, I was little surprised by their last correspondence.

It reads......I order for us to proceed with your case further.

I live in hope.( Probably to be dashed)

[SJKOO01]

Was the rest of the letter in the same gibberish Opti

If a professional organisation cannot put a letter together properly, I'd be worried about how they undertake the process of the case in itself

[Varche]

Yet another money making scam from the finance sector. The PPP scam hardly made a "splash". Sure they are paying out millions. Even as we speak they are dreaming up the next stunt to part Honest Joe Public from his hard earned cash to keep up dividend payments and bonuses of course. .

[STMO123]

Yet another money making scam from the finance sector. The PPP scam hardly made a "splash". Sure they are paying out millions. Even as we speak they are dreaming up the next stunt to part Honest Joe Public
from his hard earned cash to keep up dividend payments and bonuses of course. .

Derivatives

[albitz]

The 2018 Guatemalan sugar cane crop looks a good bet in the futures sector.Put your shirt on it.

[Field Marshal Dr. Opti]

Was the rest of the letter in the same gibberish Opti :

If a professional organisation cannot put a letter together properly, I'd be worried about how they undertake the process of the case in itself

I have used their exact words, GM.The rest of the letter asked me to send in personal documents (which I won't go into here)

It would be good to win the case.....but

[STMO123]

Right. Lets hear what Annie has to say