Making Your Choice
- Making your choice - the guide
- Main report
- Executive summary
- More detail
- Supplementary report
- Witness Statement
- Report of the High Court
proceedings
- Glossary of terms
- Questions and answers
- Timetable
- News & articles
- FAQ video
- Roadshow videos
- Presentations
Questions and answers
These were prepared to assist policyholder in coming to their decision about the Aviva offer to buy out policyholders interest in the inherited estates of CGNU and CULAC. The reattribution was approved in the High Court on 19 September 2009 (see ‘News & Articles')
45) Where have the inherited estates come from?
The inherited estate is the expression used to describe surplus assets in a with-profits fund (in other words, assets not required to meet the liabilities of the fund). The inherited estates of CGNU Life Assurance Limited and Commercial Union Life Assurance Company Limited have built up over many years from premium income and investment returns achieved by the with profits funds over that time.
There has been some confusion in that it has been referred to in the press as Orphan Estates. This is technically incorrect as Orphan Estates or Orphan Assets come from policy proceeds that have been left unclaimed.
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16) If I died would a claim on the policy affect eligibility?
15) My policy has been made paid up am I still eligible?
14) My policy ended just before the 21st November 2006; why have I not been considered?
13) Are all policyholders eligible?
12) If I took out a new policy would I be eligible?
11) I have recently switched out of the with profit fund, am I eligible?
Related Questions