Do I need to claim for mis-sold endowment or am I too late?

mandasdad

Can someone with a larger brain than me please help?

I have two endowments with Legal & general that are due to mature at the end of this year with details as follows>

No 1 Policy.

Basic Sum Assured £6468
Existing Bonus £7396
2008 bonus £ 173
Total sum assured and bonuses to end of 2008 £14038
Final bonus rate in 2008 45%
Targetted sum at maturity £17575

No 2 Policy

Basic Sum Assured £808
Existing Bonus £678
2008 bonus £18
Total sum assured and bonuses to end of 2008 £1505
Final bonus rate in 2008 55%
Targetted sum at maturity £2000

My questions are:

Are my policies likely to reach their targets ( i suspect not) and is if not is it too late to claim for mis-selling? Up to this year our statements have always had us on course to exceed the targets.

Any help would be appreciated.

nw_man

You want to make a claim for mis-selling now after years and years and years.

Hadnt you thought about this before you worked out that they arent on target ? i.e when your statements said they were on course to exceed target ?

Also, surely if your first plan was mis-sold, you wouldnt have bough another one would you ?

dunstonh

Are my policies likely to reach their targets ( i suspect not) and is if not is it too late to claim for mis-selling?

They are unlikely to hit target but that isnt grounds for mis-selling.

You have three years from first being notified of a high risk of shortfall. Over 3/4 of endowments are now time barred from complaint. The information on time barring is often given with the statements.

mandasdad

nw_man wrote: »

You want to make a claim for mis-selling now after years and years and years.

Hadnt you thought about this before you worked out that they arent on target ? i.e when your statements said they were on course to exceed target ?

Also, surely if your first plan was mis-sold, you wouldnt have bough another one would you ?

I wouldn't have a problem with mis-selling if they were going to exceed target. Also the second policy was taken out within a couple of years of the first before there was any suspicion of policies being mis-sold.
But thanks anyway.

EdInvestor

Have you had a letter saying there is a high risk of a shortfall? If so when did it arrive?.

For a view on whether you should keep them post the surrender value, maturity forecasts and interest payable on mortgage.

mandasdad

EdInvestor wrote: »

Have you had a letter saying there is a high risk of a shortfall? If so when did it arrive?.

For a view on whether you should keep them post the surrender value, maturity forecasts and interest payable on mortgage.

There has been no letter and no recent maturity forecast. I have never checked the surrender value as the forecast has always been to exceed the target.