Andrea Leadsom, Economic Secretary to the Treasury, commented: "I am pleased with the progress the Equitable Life Payment Scheme is making and am proud that the government is tackling the legacy of Equitable Life, helping over 877,000 Equitable Life policy holders
with over [pounds sterling]970 million worth of payments.
a) Proper disclosures were not made to the policy holders
by the appellant and complete information of the package was not shared with the policy holders
Keep in mind that statistics show that policy holders
who hire a Public Adjuster to represent their own interests receive significantly more for their claim than those who work alone.
The portability facility under the policy is provided to the individual and family policy holders
and not to the persons enrolled under the group health insurance policies," Francis added.
According to an industry expert the policy holders
may have to pay around 60 per cent more premium to the new insurer if the health insurance scheme is ported within a year.
Each rating class provides for a 5 percent discount, and with the previous Class 6 rating, policy holders
in the Special Flood Hazard Area received a 20 percent discount.
In addition, policy holders
can receive the required insurance certificate for their Schengen visa from Al-Ahleia Insurance virtually hassle free when presenting their NBK Travel Safe policy," added Khajah.
If we have a better year than expected we will return money to policy holders
Mr Crouch, a former executive in the transport industry and a representative of the Equitable Members' Action Group, added that Equitable policy holders
were angry at the way Northern Rock was quickly "bailed out" by the government when it needed help but Equitable Life was left to flounder.
He said demutualisation would unlock the value of the business for policy holders
and allow it to raise more capital on the financial market.
We wanted to leverage our insurance knowledge and the relationship with our partner" to "add value to the lives of our senior policy holders
," says Arthell Davis, NCML's group department vice president.
It's amazing - policy holders
are shocked, just shocked,'' said Greg Good, a consumer advocate for the Santa Monica-based nonprofit group.