Possible Payouts For Policy Holders
Norwich Union policyholders could receive, on average, a thousand pounds if they accept an offer from the insurer regarding surplus funds.
Two particular with profit funds are being addressed, affecting up to a million Norwich Union customers. They have a surplus and customers are being asked to accept a one off payment in exchange for no further claims on the extra funds that have been built up. Payouts could be as high as three and a half thousand pounds for some people so it is worthy of serious consideration.
Industry observers feel the offer put by Norwich Union is a reasonable one and therefore expect it to be taken up by the with profits fund policyholders. Should this be the case then payments would probably begin in around twelve months time as there are many aspects of administration to be completed first.