Axa Sun Life investments show lower returns
www.moneynews.co.uk > General finance > Axa Sun Life investments show lower returns
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Money News |
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Axa Sun Life investments show lower returns
Tue 1st Mar 2005
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The life insurer has announced that the bonus rates have been cut by between 0.2 per cent and 0.75 per cent for about a third of its total policyholders.
It affects those investors with 25-year Axa endowment policies, which mature this year.
Axa gave as example a person who had been investing £50 a month into an endowment policy for the past 25 years.
This year the person would receive a final maturity payout of £42,827 - last year that figure would have been £49,801.
The remaining policyholders will see no change to their bonus rates. Axa said it was able to hold payouts due to improved stock market returns.
However, as consolation Axa pointed out that, despite the smaller than expected return, this endowment investment had still earned more than the average savings account.
It had grown by an average of 7.5 per cent a year for the past 25 years, a higher return than would have been achieved if the money had been left in an account for the same period of time.
Related News : General finance |
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Related News : AXA |
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