Ready money would be twice as popular as an extra bonus and long standing policyholders should receive more, according to a survey of Norwich Union policyholders eligible to claim from the £4bn orphan assets pot.
More than 6500 Norwich Union policyholders have given their views on the reattribution of the inherited estates or orphan assets in the CGNU Life Assurance and Commercial Union Life Assurance funds. Orphan assets are unclaimed cash built up by the life insurers to provide financial security for the business. Policyholders participated in an online survey and a telephone survey while voting at a series of roadshows run by Clare Spottiswoode, the Policyholder Advocate, were also analysed. From the roadshow voting, there was low support for treating holders of mortgage endowment policies d...
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