...first made my investment with equitable life assurance, I was convinced I was doing the right thing. Assured by the fact the company was in fact Britains oldest mutual society, added weight to the argument. However, a little ove a year down the line and things have changed dramatically. Only a a little while ago in the house of Lord's it was ruled the society had to pay back a lot of money due to something or other to do with pensions. I looked on ... more
When I first made my investment with equitable life assurance, I was convinced I was doing the right thing. Assured by the fact the company was in fact Britains oldest mutual society, added weight to the argument. However, a little ove a year down the line and things have changed dramatically. Only a a little while ago in the house of Lord's it was ruled the society had to pay back a lot of money due to something or other to do with pensions. I looked on my account with them (online) and low an dbehind a couple of thousand pounds had been taken from me. The company explained their way around it. Now it has been reported that the company is in dire straits, and is possibly to be insolvent. Equitable seems to be more like a QUITABLE company right now.
Having taken out a with profits bond policy in the summer of 1999, I was expecting great things from a company consistently rated amongst the top providers. The events of the last year however have convinced me that the company's management principals are firmly rooted in the eighteenth century that they so proudly hark back to. I wrote to the company the day after they announced they were closing to new business to request a transfer. I have yet ...
gray 21.01.2001
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