Advantages: trouble free investments Disadvantages: not managed by company
Introduction:
I have been a customer of Windsor Life for about 15 years so I thought it might be useful for me to share my experiences with you. I took out a private pension and a long term Additional Wealth Plan with them shortly after buying my home.
A little background on Windsor Life:
Windsor LifeAssurance was purchased in 2004 by Swiss Re Group, which has been a well known insurer to other insurance companies since 1860. Its headquarters in the UK are in Telford and has managed more than 75 million in funds under management. It specialises in investments be they lump sum, regular savings, life insurance or pensions. When I took out my policies it was with General Portfolio, however they then changed name to GAN and then were taken over or sold to Windsor Life.
My good experiences with the company:
I have been ...
Advantages: None Disadvantages: Too many to list. They steal your money. Non-existent complaints procedure.
Windsor Life has just been voted the worst for not paying out annuities in new research published by 'Which' (June 2009). They were also slammed as 'duplicitous' by David Blunkett for not paying out money due to a penniless widow (May 2009).
It is clear why they are slow in paying out. They hold on to your money to make money for themselves. That is stealing.
I personally have had very bad experiences with Windsor Life. They delayed in paying out my endowment policy and really screwed up my plans. Their projected forecasts are also nothing like their final payment - be prepared to let them run away with thousands of pounds of your hard earned money to pay bonuses to their staff.
Unfortunately Windsor Life have taken over many old endowment policies. Their customers never chose them in the first place but they are saddled with them ...
Advantages: none Disadvantages: origionally missold by Gan and after readjusting policy messed up by W/L when in their management
I have been a customer with Windsor Life (formerly GAN & General Portfolio) for over 20 Years.
Overall I have had very bad experience with this company.
Over the years I have noticed many errors on my yearly statements of varies policies I have with W/L. In order to sort them out I was kept hanging on the other end of expensive phone calls achieving nothing. When I wrote to W/L there was often no reply or like in many cases it took 6 weeks. Then the problem was not addressed and I would receive a wad of projections to encourage me to invest in more poor products.
In my experience W/L is not clear in presenting facts to the customer and repeat substantial errors (date of birth, maturity dates) over and over. That continues after repeated notification from myself.
The complaints by W/L are handled exactly as described in ...
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