I made just £265 profit in 15 years
MONEY MAIL has won an extra £2,597 for Julie Schofield after contacting Phoenix over her poor payouts
Julie started saving for her daughters Lauren and Jenna 15 years ago, when they were five and three years old.
She put £20 each a month into Britannic with-profits policies, hoping to receive around £5,000 a policy.
But Julie, 49, from Blackpool (pictured with student nurse Lauren, 21), was shocked when they matured, in April and she got just £3,865 each. She says: ‘I am disappointed. I paid in £3,600 into each policy, making just £265 profit.’
Britannic is now a closed fund and is part of the Phoenix Group. A spokesman says: ‘The original policy payouts were correct, but in this case, the policies were not suitable when sold.
‘ We are pleased to increase her payments to £5,163.54 per policy. We apologise for any inconvenience caused.’