Need help filling in endowment questionnaire

carl310166

I sent a letter of complaint to Friends Provident,and i have received an endowment questionnaire by return.I am a little unsure of what answers i should give regarding some of the questions,eg

"The gross annual salary when the policy was arranged"...........will my employer be able to give me details from 17 years ago? as i have destroyed my payslips since then.

"The name of the financial advisor" we can't remember,will we be expected to remember?........ we were dealing with at least two estate agents/mortgage advisors around the same time,and we can't be 100% sure who we took the endowment out with,will we be asked........................"if you are not sure who sold you the policy,how can you be sure you were miss-sold?"

Our case will rest on the fact that we are "risk adverse" and there is no way we would even consider an endowment if there was ANY chance it would not pay off the mortgage at the end.

Can anybody advise how much detailed information the company needs?

Thanks in advance.

BACKFRMTHEEDGE

carl310166 wrote:

"The name of the financial advisor" we can't remember,will we be expected to remember?........ we were dealing with at least two estate agents/mortgage advisors around the same time,and we can't be 100% sure who we took the endowment out with.

Friends Prov should be able to tell you this - they will still be paying commision to the person who sold it to you :whistle:

BACKFRMTHEEDGE

carl310166 wrote:

..."if you are not sure who sold you the policy,how can you be sure you were miss-sold?"
Our case will rest on the fact that we are "risk adverse" and there is no way we would even consider an endowment if there was ANY chance it would not pay off the mortgage at the end.

Can anybody advise how much detailed information the company needs?

Don't remember this being too much of a problem in our claim; it's up to them to prove that they explained all the risks to you. Very few financial advisors have any paperwork to prove this - how could they have explained it to you, because if they had you wouldn't have proceeded....Go for it....it's worth it. :money:

carl310166

BACKFRMTHEEDGE wrote:

Friends Prov should be able to tell you this - they will still be paying commision to the person who sold it to you :whistle:

The only problem is,they "propose that a copy of the mortgage file is sent to us AFTER the descision is made" is this the norm?

BACKFRMTHEEDGE

When I was doing my claim I'm sure I just called Friends Provident told then I was trying to get compensation from the person who sold our policy to us and they gave me their current whereabouts/address. In fact, I'm pretty sure the person at Friends Provident "Wished me Luck." The letter of complaint was then sent to the seller - that is the person who sold it to you ( In our case it was a broker who worked for solicitor.) The claim isn't against Friends Provident, it's against the seller. I also called Norwich Union and they gave us the name of another seller who sold us another policy( - he had worked for a building company who sold us a flat- )we were then able to track him down by letter. Unfortunately we could not pursue compensation against him because it was pre-1988 Finance Act. :rolleyes: Hope this helps.

BACKFRMTHEEDGE

I'm sorry,I've just re-read what you've written. Did you buy your policy direct from Friends Provident or from another party i.e. a broker working for your estate agent? :undecided

carl310166

We bought one of our policies from an estate agent/financial adviser, the second from a branch of the Abbey National and the third from a home visit from a Friends Provident employee.

I can remember the exact circumstances of the second two policies but not of the first. I have already written to the Estate Agents that I thought had sold it to us but they have written back to say "Not us".

EdInvestor

Ask FP for the info on each endowment.It's not impossible that the other two were technically operating as emplyees of FP at the time they sold you the policies and thus the claims will be against FP.

vinno65

Hi Carl,
who would remember their gross annual income at the point of sale? and in any case isn't this the first thing anyone would ask you before selling you a mortgage!!!. Just tell them you can't remember but they should have this info on file.
Secondly the policy that was sold at the Abbey National if it was at anytime around 1991 then FP are probably responsible as the Abbey were tied agents. When I went to the Abbey in 1991 I had a mortgage interview with and Abbey mortgage advisor wearing an Abbey uniform. Have since found out that this person was basically a FP agent( so I recieved lots of fair and impartial advice!!!).
Thirdly have FP not tried to time bar you yet?, pound to a pinch of whatsitisname they will!
good luck Vinno

carl310166

vinno65 wrote:

Hi Carl,
who would remember their gross annual income at the point of sale? and in any case isn't this the first thing anyone would ask you before selling you a mortgage!!!. Just tell them you can't remember but they should have this info on file.
Secondly the policy that was sold at the Abbey National if it was at anytime around 1991 then FP are probably responsible as the Abbey were tied agents. When I went to the Abbey in 1991 I had a mortgage interview with and Abbey mortgage advisor wearing an Abbey uniform. Have since found out that this person was basically a FP agent( so I recieved lots of fair and impartial advice!!!).
Thirdly have FP not tried to time bar you yet?, pound to a pinch of whatsitisname they will!
good luck Vinno

Well,i have filled out the questionnaire,and i will be posting it later today,so i have no idea if they are going to come back with a "time bar" letter,i just hope not,although,i did assume you have 3 years from when you realised there might be a shortfall,in my case,i received letters in June 2003 to say there was.

vinno65

Hi Carl,
i was just wondering because FP started sending out reprojection letters is 2000 did you not recieve one then?. If the first one you did recieve was in 2003 then you should be ok. Have any of their letters given you a date by which you must complain(usually in a little box towards the end of the letter. The reason I mention time bars is that FP are very hot on them and will not budge if they think you are out of time.
good luck Vinno