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Non Mortgage linked endowments
NearlyDown
Posts: 1 Newbie
Hi,
I'm a little confused.
I have an endowment that I took out when I was 17 and was not linked to a mortgage. It was sold to me as a savings plan by CIS. There are only 3 years left to run on this 15 year polcy.
Recently I have spoken with friends and family who have suggested that I make a claim against this endowment. But all the details I can find are relating to Mortgage linked endowments.
The main problem I have with the endowment is I was told that I would receive a large amount on maturity, but I have no idea how it is performing as I have only had two bonus certificates and the second was from two years ago.
Do I have an entitlement to claim? Should I complain about the service and request compensation because of this?
I'm a little confused.
I have an endowment that I took out when I was 17 and was not linked to a mortgage. It was sold to me as a savings plan by CIS. There are only 3 years left to run on this 15 year polcy.
Recently I have spoken with friends and family who have suggested that I make a claim against this endowment. But all the details I can find are relating to Mortgage linked endowments.
The main problem I have with the endowment is I was told that I would receive a large amount on maturity, but I have no idea how it is performing as I have only had two bonus certificates and the second was from two years ago.
Do I have an entitlement to claim? Should I complain about the service and request compensation because of this?
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Comments
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Recently I have spoken with friends and family who have suggested that I make a claim against this endowment. But all the details I can find are relating to Mortgage linked endowments.
On what grounds are they saying you should complain?
People complaining about endowment mortgages are saying that they should have gone with a repayment mortgage. That clearly doesnt apply in your case.The main problem I have with the endowment is I was told that I would receive a large amount on maturity, but I have no idea how it is performing as I have only had two bonus certificates and the second was from two years ago.
I suggest you ask CIS for an update.Do I have an entitlement to claim?
Nothing you have said suggests you have.Should I complain about the service and request compensation because of this?
What poor service have you had? and why do you think you deserve compensation?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
so your confused because you were told it would do well and you havent had a statement to see if thats correct? hardly makes it the most confusing of issues.
what i would be more confused about is why your friends are saying "claim" when they (i assume) know zip about your policy....unless they are the type to tip a beer down the back of the TV when they want direct line to sort them out a new one.0
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