Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1
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    Default Abbey Life Annuity - Enhanced Annuity letter. Please help

    I wonder if someone can advise me with this please?

    My parent's have given me a letter to deal with that they received from Abbey Life regarding a Joint Life Annuity policy they have.
    It says in it that the FCA recently undertook a review of annuity sales as to whether customers were given adequate information about their options at retirement and in particular regarding 'enhanced annuities'.

    It says that enhanced annuities work on the basis that if a customer has a medical condition or lifestyle factor (ie smoking etc) they will probably live a shorter time than someone in a better state of health. Firms expect to pay these customers their retirement for less time so typically provide them a higher income. It says that Abbey Life did not offer EA but one may have been avail to you from another provider if you were eligible and therefore you may be due compensation.

    Enclosed is a questionnaire. My dad says he has no recollection at all of Abbey mentioning these EA and as he has a heart condition he would have actually bought one if offered it at the time.

    He now has the start of vascular dementia so it's been left to me to deal with this.
    Does anyone know much about the FCA review or how to proceed without me messing this up for them?


  2. #2
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    Default Re: Abbey Life Annuity - Enhanced Annuity letter. Please help

    We could do with some help from you

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  3. #3
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    Default Re: Abbey Life Annuity - Enhanced Annuity letter. Please help

    Thank you Andyorch.

    Very interesting.
    Is anyone else on here dealing with this at the moment. There are some sheets to complete but my parents don't want to get this wrong.


  4. #4
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    Default Re: Abbey Life Annuity - Enhanced Annuity letter. Please help

    uploadicon the documents (redacted ) and we will take a look.....although as there from the Abbey really cant see you completing them incorrectly.

    Andy

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  5. #5
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    Default Re: Abbey Life Annuity - Enhanced Annuity letter. Please help

    the letter says all you need to know about the why, it now depends on what an actuary thinks about your dads health and lifestyle. they may well need to access dads madical records (make sure that you werent lying about the 100 a day fag habit) and a charge will be made for this. If there is a difference between his annuity and the average for someone with those problems then they will top up


  6. #6
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    Default Re: Abbey Life Annuity - Enhanced Annuity letter. Please help

    For what its worth, I know a few guys that worked for Abbey Life and there is a very good chance that they would not have asked about health. As far as I can remember they did not offer an enhanced annuity so would not mention it in case they lost the commission.



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