Phoenix Life Insurance www.phoenixlife.co.uk

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Phoenix Life Insurance www.phoenixlife.co.uk
★☆☆☆☆
1.2
5.0% of users recommend this
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Latest Reviews

“This company is a joke. I am still waiting nearly a...”

★☆☆☆☆

written by pairwin on 04/04/2024

This company is a joke. I am still waiting nearly a year to have my company pension paid out. They promise to send out documents and then do not. When you cal again you will eventually receive the documents. I sent them back with photocopies of passport and back statements, then a month later they sent out the original documents again telling me that they had provided the wrong information in the original documents and I had to fill them out and return them again. Forward 3 months and still no news so I contacted them and they told me that a letter was going out that day (what a coincidence) and the I needed to send another photocopy of my bank statement because the original was out of date and my passport photocopy needed to be signed by a legal person ( never mentioned this before) I have now filed a complaint and will take it further, do not use this company or let them anywhere near your money, there are more reliable and better companies than this total sham.

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Was this review helpful? 1 0

“Awful Company”

★☆☆☆☆

written by BurghBlythe on 04/09/2023

My mother paid over £2k into an over 50 plan, she died recently, this company have taken £783 of her payments, they issue an 8 page document to complete before they will pay out, including hard copy bank statement, will and death certificate, all of this has to be done by post, why? I simply rang LV gave the ref number on the death certificate and confirmed that I am the executor and payment will be made shortly. Do not touch this firm with a ten foot pole! Completely amoral, only interested in fleecing elderly people who want to save their family from paying huge funeral costs and then making it as difficult as possible for the family to receive the monies that they are entitled to.

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Was this review helpful? 5 0

“Useless, slow and incompetent”

★☆☆☆☆

written by Floodeo235 on 01/06/2023

I received my pension pack late last year as I attained the age of 55. It mentioned an annuity, so I was going to take that option but then was told that this is not possible as I now live in the Isle of Man. I then decided to transfer my pension. In November, the value was £40,500. Completed the paperwork in January of this year and only just been paid out. They put the date of the transfer as being 25th January at the amount had fallen by nearly £3,000. That's over a two month period. I only received the money last week! Received the money last week. They've deducted a Market Value Reduction, which they shouldn't have done. My financial adviser had already set a complaint in motion on my behalf due to the length of time it was all taking. They had eight weeks to respond. That's come and gone and no response. Totally useless. I am now going to contact the ombudsman and/or the Financial Conduct Authority.

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Was this review helpful? 8 0

“My mother has died after paying £35 per month since...”

★☆☆☆☆

written by JonHull419 on 05/10/2022

My mother purchased her Over 50's life Insurance in the late 1970's firstly with Norwich Union then transfered to Centuary life who in turn transfered to Pheonix life on 29th December 2008. I have spoken with 2 call centre staff. I was told they could not transfer to "the team"as they do not have phones! Nor email. I asked if they still took fax if that was the case? No condolences. 1st person said the policy would be in the cellar to write in with a Death Certificate, not copy. Plus all relevant details. 2 days later told it would be in a vault somewhere. On the message read out during long wait to speak to someone ut says "If you have a death certificate number we can pay out there and then" Rubbish unless that's just if you bought policy yesterday and died today! Rubbish staff and rubbish communication skills. In fact don't use. JUST RUBBISH.

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Was this review helpful? 10 0

“traced my pension only to find out they had paid it...”

★☆☆☆☆

written by HailieFournier on 27/08/2022

traced my pension only to find out they had paid it out to a person posing as me. This is now in the hands of the police. Nightmare to deal with this. Still trying to get my pension back from them.

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Was this review helpful? 3 0

“Transferring your Phoenix Life pension - beware!”

★☆☆☆☆

written by shel7 on 16/05/2022

I have had my policy since 1989 and it has hardly made any profit given the longevity. My pension was worth £9,973.03 on 22nd Nov 2021, it went down to £9,473.74 by 8th April 2022 so I requested to transfer this pension Fund to the People's Pension on that day. I called PL for a second time on 16/05/22 and they still haven't transferred the funds, claiming that they didn't receive the documents. I live near Romford so I asked if I could go to their premises today to sign the papers but they refused saying they are an Inbound Call Centre and do not see customers F2F. However they insisted that they do have premises even though their address is a PO Box. I now have to wait for the documents to arrive and go through the whole process again which means less funds by the time the transfer takes place; if indeed it ever will. I planned to move this pension on 8th April knowing full well it could take up to one month before the transfer takes place. I'm now back to square one, having to start the process again today knowing full well that this pension will loose further funds. It doesn't seem to make a profit. My pension is currently worth £9,052 as of 16/05/22. A financial advisor I spoke to was amazed that PL charges an exit fee of £100. It is unacceptable especially as I have spent so many years with them. There are no benefits or bonuses for this pension, for what I can see? I invested the same amount of money into another pension with a different company back in 1988 and that pension is now worth £95,000. For someone who has been with this company for over 30yrs, I can clearly see that staying with PL was a huge mistake. All I want to do now is to invest my pension elsewhere as quickly as possible. Can you at least do that for me Phoenix Life? How about using Origo?

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Was this review helpful? 5 0

“Do not use this company ”

★☆☆☆☆

written by RyanManning on 02/04/2022

Phoenix Life do not use, misleading, very poor customer service, been trying to withdraw my pension money out of this company which was taken with another company 40 plus years ago, Phoenix Life somehow took it over unknown to me, now they will not let me have the pension money after informing me I could transfer it from them to another company if I wanted. It’s under the 30k limit, I asked for the money, I have been given excuses why I cannot have it out myself as a full payout. I’am now waiting for the customer complaints department to speak to me( not holding out for that to happen). Next call to the pension ombudsman to report them.

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Was this review helpful? 9 0

“Pension Lump sum ”

★☆☆☆☆

written by Fridag31 on 23/02/2022

I phoned Phoenix Life in January to state I wished to take my pension as a lump sum when I turned 55 on 28th February. At that time my pension pot was £24,871 a week later it had gone down by £400 and today it's £23,475 so in a month it's dropped by £1400 which I find very odd as previously it has risen every year! Strange that as as soon as I want to cash in my pension it's worth starts dropping like a lead weight!!! Yet they can give me no explanation and I have no idea how I can dispute the amount!!!

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Cherrylips1967's Comment

Written on: 31/03/2022

Go to the ombudsman

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Was this review helpful? 13 0

“Inept and unhelpful, avoid if possible. ”

★☆☆☆☆

written by on 07/01/2022

They contacted me. I asked what about and they said I ‘may’ have a policy from 30 years ago and asked for my address. Gave them all the info and passport driving licence info. Said I.d was expired, it’s not. Contacted me again by mail saying they need I.d passport driving licence council tax bill, emailed it all. Month later another letter saying it’s not acceptable because it’s expired. Are they time travelling? Inept. Absolute joke. Don’t waste your time with this company go straight to the ombudsman or fca and complain.

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Was this review helpful? 6 0

“This company should not be allowed near money,...”

★☆☆☆☆

written by on 29/09/2021

Phoenix Life is the absolute worst company I’ve EVER dealt with in my life. Trying to get your pension out of them is like trying to get blood out of a stone. When you initially request it, they will send you a pack out. When you send your completed forms back you then have to chase them again. They then send you more info requests, you return their next questionnaire, then have to chase them again. They will then ask you to fill out a form stating that you DO actually want your pension… and so it goes on. They will even send you a form to fill in saying you’ve received the other forms. If you ring them, especially the Glasgow office, make sure you have the time for a lo-o-o-ong wait on the phone. Be prepared for attitude from ‘customer service’. It seems this firm will do ANYTHING to hinder the process of your payout. Also, don’t expect your money to have gained interest in its final years, I think they put it under a mattress. How the hell can a so-called finance firm not manage to make you a penny out of your money in its final years? To get through sometimes, I rang the number for Phoenix Wealth, a subsidiary company. Lo and behold they answer straight away, most likely because they are taking your money rather than paying out. They usually managed to put me through. Once my wife waited on the phone to the Glasgow office for an hour, before it cut off. Eventually I complained and complained until they agreed a £100 compensation payout. It never arrived due to someone putting the wrong account details in. I complained again and after a few phone calls the compensation was raised to £250 which eventually arrived. For anyone who’s had the same issues as my wife and I, it pays to complain to them and threaten with the Financial Ombudsman. For anyone who’s considering using them, avoid like the plague!!

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Was this review helpful? 15 0

“Phoenix Life does not know what customer services is”

★☆☆☆☆

written by elDromo on 12/08/2021

I recently moved home, and tried to inform them. First, I downloaded and filled in their change of address form. They wrote back asking for proof of identity. I appreciate that they need to be diligent for money laundering etc but why didn't they ask for this in the first place? I sent them appropriate documents according to their letter "...the name and address details on any document must match what we hold on our systems’. Apparently, this means my new address, and NOT the one they have on their records. I send them this, along with a complaint. They rejected my complaint, hiding behind 'money laundering' and 'that's our procedure'. Wouldn't it be nice if Phoenix Life actually read my letter and understood why I was complaining?

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Was this review helpful? 2 0

“Wouldn't touch this company with a barge pole. Was off...”

★☆☆☆☆

written by KaidenGilbert1954 on 17/07/2021

Wouldn't touch this company with a barge pole. Was off work for 5 months after having open heart surgery. Had a deferred 12 wks before I could claim. I had a very physical job which they knew about. When I tried to claim they kept using delaying tactics. Kept taking out my premium every month .have been paying into this insurance for over 20 years .they promise financial protection when its needed. But never materialised. All they care about is taking your money

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Was this review helpful? 4 0

“Poor service”

★☆☆☆☆

written by on 13/11/2020

This company is making it really difficult to make my pension choices. The two other companies I use have made life simple, almost a pleasure. Phoenix Life on the other hand are just looking for ways to make more money out of. Staff are poorly informed and talk over you.

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Was this review helpful? 3 1

“Delay tactics over handing out money”

★☆☆☆☆

written by Nannyjill on 10/11/2020

I spotted co had stopped my 92 year olds small annuity, nobody could trace it no central data base eventually I found some ref to policy no after already trying for some months . Filled in all documents e mailed as asked. Over a month later after repeatedly sending e m ails received a letter saying documents e mails were not clear enough. I have now had to request a letter from Care home to say he is a resident and alive and kicking. I have other old Pearl policies they can't trace which are unredeemed. Absolutely appalling, pearl were a good company Phoenix have tarnished a good old insurance co by their disgusting service. It is difficult to steer clear of them as they have taken over good old reputable companies, without clients consent

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Was this review helpful? 6 0

“40 years notice”

★☆☆☆☆

written by Felixh217 on 09/11/2020

This company is a joke, There isnt a buck stops here, 40 years i have been with them, My retirement date never changed, now 3 weeks later i still have no pension fund, so many excuses, saying they never received thing when they have, save your money for a company that cares as this one certainly does not, ..... Time to contact the FCA

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Was this review helpful? 8 1

“Avoid all costs”

★☆☆☆☆

written by JosieDoherty on 12/03/2020

My dad passed away early this year and they are stalling on payment. They keep changing next of kin and demanding hard copies of everything as opposed to emails. He had 3 policies and then other 2 paid out within a week of his death. They are a disgrace.

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Was this review helpful? 7 0

“Avoid, at any cost”

★☆☆☆☆

written by Zoey400 on 06/12/2019

Had an accident, not my fault, bus invaded my motorway partition and hit my car side. Unfortunately no witness but from damage to both vehicles responsibility clear. Communication with them very poor Did not reply to my phone calls as stated. Sent some ridiculous letters. Never communicated result of investigation. From next insurance I was told I was judged at fault, not even both at fault!!! Scrapped my very good but only old car with little mileage and valued at half the sum I would have to pay on the market for a similar one! Asked therefore to repair it myself: to sell it back to me (my car, now their property) demanded a sum much higher than the estimated repair cost!!! I wish I had known before what type of insurance they were. By the way, they have changed name to Market... something

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Was this review helpful? 2 0

“Poor customer service”

★☆☆☆☆

written by Gustafson238 on 11/03/2018

Husband put claim in for pension as he turned 55 end of January. We are still waiting. Excuse after excuse. Still not processed.

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Was this review helpful? 6 0

“life insurance payout”

★☆☆☆☆

written by KarleyStafford on 25/11/2017

HAVE STALLED. NO RETURN CALLS. EXCUSES, EXCUSES!!! I AM REPORTING THEM!! DO NOT DO BUSINESS WITH THEM!!

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Was this review helpful? 5 0

“Stalling”

★☆☆☆☆

written by carolpeters007 on 26/10/2017

My father in law died on 17th Sept 2017 and to date, 26/10/17 still have not been paid out, everytime I ring there is excuses, I was told it would all be completed by close of business on the 24th Oct and nothing! Have rung them again to be told the same thing, "being processed"! I have the funeral directors to pay and other bills and all this company does is stall and give you excuses, I would avoid.

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Was this review helpful? 6 0

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Asked by Debbieperkins on 3rd October 2023 Report this content
Could I please have an uptodate steatment of my policy.

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Asked by rodneyhalls on 6th August 2023 Report this content
How do I draw on my pension?

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Asked by lynweng on 8th June 2023 Report this content
Hi. Just received your letter about transferring my policy. Unfortunately I have no idea what this policy is about? Could someone get in touch with me Thank you

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Asked by doowgnilloc on 26th January 2022 Report this content
How do I go about claiming my retirement pension?

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Asked by Alan8761 on 8th November 2017 Report this content
Can I cash it in?

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Asked by Alan8761 on 8th November 2017 Report this content
Small pension pot what are my options?

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Answers (2)
Report this content Alan8761 Written on: 08/11/2017
Can I cash it in
Report this content coffeetoffee Written on: 08/11/2017
If you dont need the money right now either leave it where it is or take the tax free 25% each tax year and transfer the remainder to another pot if you have one .But ask what they can offer you first!
Asked by pc1208 on 7th June 2016 Report this content
Phoenix Life have just taken over my AXA pension and my FA is advising moving it away as Phoenix do not have a good reputation. Can anyone comment please?

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Answers (1)
Report this content artofohm Written on: 14/06/2016
I can tell you that your FA is spot on, Phoenix had my pension tied up and spent almost a year transferring it. The very unprofessional. They charged me so much in fees for the exit you really should get your FA to tell you what those will look like and calculate if in the long run its worth moving it but overall they are thieves.
Asked by MKCSridhar on 25th December 2015 Report this content
I have a policy taken before 1987 on joint lives with my wife. The policy is ready to cash this month. I want to surrender and claim the proceeds. Advise me the procedure and how much time it takes. There have been some changes of my contact details. How do I update them? Dr M. Sridhar

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Asked by Shiroma on 15th April 2015 Report this content
I cannot find my policy anywhere. Can I get a copy?

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Asked by Johnmcgreevy on 29th March 2015 Report this content
I have a pension with Phoenix, I have an annuity number. Can I cash this in now or when can I do it? I am over 55.

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Answers (1)
Report this content artofohm Written on: 01/01/2016
You can email the Customer Relations Consultant 
Asked by EileenWhite on 29th October 2014 Report this content
I have been out of the country for the past 3 months visiting my daughter in New Zealand. On my return I have been clearing out some old correspondence and come across a letter from them informing me that some finances of mine has been passed on to your company from the winding up of Batjic retirement scheme. Would you please advise me on how to claim the amounts quoted?

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Asked by elkie246 on 11th October 2014 Report this content
I have an annual plan. I am disabled and have been for a few years so I don't make any payments to this cover. I am over 55, can I opt out of this policy and if so how much would I get?

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Asked by paster12 on 4th September 2014 Report this content
Why are all three of my polices taxed? Is it because I have been given back payment from them? 

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Asked by Slazarus on 5th May 2014 Report this content
I have a pension fund in UK matured--would like to bring it over to USA--having problem getting hold of person in UK office. What should I do?

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