endowment taken out 1986

bob2_6_57

I took out an endowment in feb 1986 to cover 30k mortgage (small by todays standards) the company that sold me the endowment is now out of business but the provider is Friends Provident, I read that policies taken out before 1988 do not qualify for mis-selling compensation, is there any point in trying to claim due to the fact of the representative company no longer exists and the policy was taken out before 1988
tnx BOB

vinno65

Hi Bob,
It might be worth complaining. If the seller were tied to FP then I believe FP will be responsible for the sale. If they are then you may find they have signed voluntary to the FOS for pre 1988 cases.

Regards Vinno

jillski_2

I took my (2) endowments out in February 1988. I has just received a letter offering compensation on one of them and refusing on the other! Give it a go. Nothing to lose!