what is a life policy

In message , Peter Saxton writes

Glad you have same problems! How about this one...

Me ) Why have you charged an MVA on this pension when the client deferred his retirement?

Them ) Because we can.

Me) Where does it say that.

T) In the policy terms & conditions.

M) Where in the policy terms in the conditions?

T) Its in there.

M) Where exactly?

T) Its definitely in there!

M) No its not. Which para is it?

T) err,,,,,,,

(three week wait)

M) Found it yet?

T).... errrrr, we cant find a copy of the T&Cs for such an old policy at the moment but its definitely in there.

M) How do you know then?

T) My supervisor told me.

M) How does he know?

T) He says all policies after (date) have that clause.

M) This policy was issued before (date).

T) Well it would be the same for them as well.

M) Why?

.... another few weeks wait.

M) Any luck?

T) Here are the T&Cs for the policy, its 5.1 (a)

M) but 5.1(a) is about indexation?

T) well its 5.1 (a) in my copy and I think I sent you a copy of my copy.

M) send me another copy then.

(another version then arrives in the post)

T) Sorry, sent wrong version and its 16.4 (g), I made a typo in my original letter.

M) But these T&C's are dated 2004? The policy was issued in 19??

T) The policy was issued by one of our constituent companies and we have archived all the T&Cs for old policies.

M) Well I've got the T&Cs here with the original policy, shall I send YOU a copy?

T) Yes please.

(two months)

M) Read them yet?

T) No, I'll ring you back next week.

two weeks

M) Read them yet?

T) yes.

M) Where does it say it?

T) It is in there I just cant find it yet.

M) If I cant find it and you cant find it doesnt that lead to an obvious conclusion.

T) err, Yes.

another week.

T) Dear M No MVA is chargeable in these circumstances. Yours sincerely.....

(All this is true and there is loads more).

I'm glad (not really, more reassured!) that I'm not the only one to regularly have these problems.

Tim seems to be living in a different world to the rest of us:

"IME of working with a large number of big lifecos, they can *always* do that!"

"As a member of staff myself, I well knew "how they trained their staff" -- because I was one of them!

As a consultant I often find myself corresponding with / calling their customer service, so I *do* have an idea of "their levels of customer service"!"

Maybe the solution is obvious. He's been trained to their standards!