Norwich Union windfalls: all your questions answered

(30 July 2008 - Update) - Norwich Union confirms £1,000 windfalls (and we answer all your questions)

Over 50 people have replied to my two blogs on the subject of potential windfalls being paid to with-profits policyholders of Norwich Union and (possibly) Prudential.

It's no wonder: there is big money at stake. Policyholders could net thousands of pounds each.

I've tried to address your questions in a general way in the blog below here, and the one before that here. And my colleagues have written more on the subject, too, like this piece by Simon Lambert here.

But many of you have asked additional questions and raised other interesting points. So I've asked Thisismoney to set up a special message board, which is now running here.

Anyone can browse the message boards, reading other users' discussions, without needing to register. But if you want to participate you need to register, which is free and quick.

It's well worth it, because you can discuss the issues more easily there than here on the blog. You can reply to one another and have a proper conversation as all posts are published instantly.

To start the conversation off, I've copied a number of the questions made in reply to my blogs into the message board and I've tried to answer several of them individually.

I promise to keep an eye on the boards in future too, and try to find answers to other questions as they crop up. But hopefully the message board will allow other people - better informed than I am - to chip in and provide their own answers and replies.

So if you've got any questions, thoughts, or anything at all to say on the matter of with-profits windfalls whatever, get to the message board and contribute right away here.

(All I'd ask is that if you want to contribute and you are employed by either Norwich Union or the office of Clare Spottiswoode, the Policyholder Advocate, that you're upfront about it!)

Best wishes and thanks for the interest you have shown so far,

Richard Dyson

Comments

[Paul Fairbrother]

I have had several WPB some of which i have shared in any windfall some i have not. All have followed the precedents set before and although there will never be a perfect way to distribute any windfall this seems to be the most favorable . That is to say the bondholders currently qualifying for a windfall should be the only ones to benefit as in other earlier windfalls.
People who have had poor returns /short fall on endowments etc (as myself on some )cant be considered to include everyone would be never ending where would the line be drawn ? The payout once agreed should be based on the length of the policy held x the amount held .