Scottish Life Assurance

Having been a policyholder (twice over) since the 80's I was looking forward to receiving a bonus with their takeover by Royal London. HOWEVER, it seems that because our policies were assigned to a building society (they aren't now and haven't been for a few years) we have lost membership rights and therefore not only any windfall, but also our right to vote! Now, the first I heard of this was a month ago. We were not told when we purchased either policy that assignment of the policy would remove any rights of membership. In my opinion this is tantamount to the company lying to it's ... more

Their has been a lot of misinterpretaion about how Scottish Life has compensated members for loss of their voting rights. Scottish Life only Mutualised (ie became owned by its policyholders and NOT share holders) in the late '60's and because of this only certain members have qualified for the £500 windfall. People have become far to accustomed to large had outs on these occasions and seem forget their is no such thing as a free lunch, a windfall payment is only a "Bribe" to get the member to give up his voting rights. Historically Mutual companies have paid out larger sums to investors or in ... more