Norwich Union Endowment Promise

JohnFB

Sorry for repeating my question from a while ago but . . .
I have 2 Endowments:
The first was taken out in July 88 with Norwich Union via the Branch Manager at a Woolwich BS. I have been told that there is a High Risk of a shortfall with this one ( approx 15k).
The second was taken out in Dec 94 with Commercial Union (now part of NU) via a CU Agent at an Estate Agents. I have been told that there is a significant risk with this one.
I have 2 questions:
• If I want to complain then do I write to Norwich Union in both cases or do I have to write to the Woolwich (the branch isn’t there any more as it’s now part of Barclays) for the first one, and to the original CU Agent (probably not there any more) ?
Surely it makes more sense to complain to NU.
• My warning letter for my first endowment talked about a ‘Norwich Union Promise’ where they may compensate a figure of a max of £6,400 because this is the 6.00 growth figure. However they will not compensate any more if the growth rate falls below 6.00 and it does not sound as if it is guaranteed or dependable. How does this ‘Promise’ work in practice and if I make a Mis-Selling complaint will I lose this ‘Promise’ compensation ?

Can anyone advise ?

Thanks

EdInvestor

You have to complain to whever sold it to you.Ask NU who this was if you don't know.It is possible that in both cases the sellers were acting as agents for NU, and thus that will be where to complain.But it may not be so.Ask.

The promise is not a guarantee.You will not lose it if you make a misselling complaint but it is unclear what it is worth (if anything).