Mis-sold endownment claim time barred?

long_finger

Hello I wonder if anyone can help? I believe I was mis-sold an endownment with a projected 6% future accruing to £20,000. Mail received this morning advises with the same 6% projection the shortfall will be £8,157.
Sometime ago, Dec 2003, i wrote to the company who I believed had mis-sold me the policy and thei response was that my "policy was initiated on28th April,1988. The regulatory regime did not commence until 29th April, 1988 and I am therefore unable to deal with your complaint on this basis."
Given that I have recently been diagnosed with illness that prohibits me from working, this recent advice re shortfall has left me in a bit of a pickle.I should also point out that I have another £20,000 policy with another company which is also failing but not quite as dramatically.
Can anyone advise if there is any other avenue I could pursue?

I would appreciate any guidance on this matter.
Johnny

dunstonh

I believe I was mis-sold an endownment with a projected 6% future accruing to £20,000.

6% was a sensible target projection rate and you wont get a complaint upheld on that basis.

Sometime ago, Dec 2003, i wrote to the company who I believed had mis-sold me the policy and thei response was that my "policy was initiated on28th April,1988. The regulatory regime did not commence until 29th April, 1988 and I am therefore unable to deal with your complaint on this basis."

it is the date you signed the application. Not the date it commenced. So, in reality you would have signed it more than one day before regulation started.

Can anyone advise if there is any other avenue I could pursue?

No. Its pre-regulation and they have no legal requirement to review cases before regulation.

Does your policy have any waiver of contribution/premium cover on it?