Endowment query

Dee664

I have 2 endowment policies. One I had a successful clain and received £6000, which should cover the shorrfall but we will not gain any bonuses. The other endowment claim was turned down as they said they could find no paperwork to substantiate the claim that we were wrongly advised. Should we have taken this at face value as we did, or should we have fought it?

The mortgage expires in 2013 and I'm wondering if it would be best to pay off the mortage now, or whether to keep on paying until the policies and mortgage terms end.

Is it possible for someone to advise?

Thanks

Dee

dunstonh

Should we have taken this at face value as we did, or should we have fought it?

Depends on whether you had evidence to counter what they are saying.

A correctly documented client file would see virtually all endowment complaints rejected. Most of those that are upheld are not because they were mis-sold but because there was a lack of evidence due to files missing or incomplete or badly documented.

The complaints system works on the basis of evidence and where there is none, then the balance of probability. If you have no evidence of mis-sale and their documentation contained the risk warnings and comparisons between repayment mortgage and endowment then you are not likely to win.

If you do disagree with the response of the company, you have 6 months to take it further. after that 6 months is up, its case closed and you cannot reopen the complaint unless you have significant new evidence.