endowment assignment

goalhanger

I have an endowment with AXA which has an assignment to the Chemical Bank. I only have a month and a half to go and I can't get any reply from J.P.Morgan who took over Chem Bank. Does anyone know how I can get this assignment removed ?
I tried the new US based Chemical Bank and they said they had nothing to do with the original bank I used . Mortgage with Chem Bank was from 1983 to 1988.
any help much appreciated as AXA have just left it to me to sort out.
I only found out about this assignment as I phoned to check the terminal bonus.
Thanks,
Phil

dunstonh

Does anyone know how I can get this assignment removed ?

The bank or parent company (if taken over) needs to write a letter to say they have no financial interest in the policy now. If you say that its JPM then JPM need to do this. If they fail to respond then you raise a complaint with them. If they still fail to act on that you take it to the FOS. It will quickly be resolved then.

AXA have just left it to me to sort out.

there is nothing they can do. It is up to you or your financial adviser to do this work. Not the provider.

goalhanger

I have tried again tonight with JPM. But I was only told by the US Chem Bank that it was JPM . I have no official paperwork about the takeover as I had already changed to the Abbey.
Advisor long gone as it was 25 years ago.

I wil keep trying as i'd like to collect my endowment when it matures as i will have to keep paying the mortgage . I would have thought AXA would have let me know before that it was still assigned to the original bank.

Thanks for the interest,
Phil

goalhanger

Well I have given up getting the run-around from the banks and have asked an IFA to help me get my endowment un-assigned. I know it will cost me but I need to get the payout on time.
I will be interested to hear how the IFA deals with this.

Fingers crossed.