Report Endowment Misselling Compensation SUCCESSES

markyhomer

Ncas or something like that.

dunstonh so do you think I would be wasting my time sending a letter off, to General Portfolio/Gan Life/Windsor Life or whatever they are calling themselves now?

By the way thanks for replying..

markyhomer

Double post

dunstonh

dunstonh so do you think I would be wasting my time sending a letter off, to General Portfolio/Gan Life/Windsor Life or whatever they are calling themselves now?

I wont say you are wasting your time as they may decide to not activate the timebar. However, you would expect them to do so.

magpiecottage

dunstonh wrote: »

I wont say you are wasting your time as they may decide to not activate the timebar. However, you would expect them to do so.

It is quite possible records have now been destroyed anyway.

elliemay5

I was sold a 25 yr endowment mortgage 1999 while having treatment for cancer. The lady arranging it knew this. Was it right of her to do this

elliemay5

Please, could someone reply to my question

grabbit

elliemay5 wrote: »

Please, could someone reply to my question

try checking this out http://www.which.co.uk/consumer-rights/problem/what-are-the-grounds-for-making-a-mis-sold-endowment-complaint/

genises

Hi
Some advice please
I took out two endowments with sun life of Canada and complained I was miss sold the endowments.
In 2006 I took sun life of Canada to the financial ombudsmen and won and received 1,600 on each policy.
In 2012 I have received a letter from sun life of Canada as follows


The FSA set up by the government set future growth rates using long term assumptions based on economic conditions at the time.Sun life of Canada,currently uses lower growth rates than those set by the FSA because the investment mix of our with profits fund is different to what was assumed when the rates were set.


Am I able to go back to sunlife of Canada and the FSA to relook at this as Sun life has admitted the investment fund is different to what was assumed when the rates were fixed.Which is what the FSA used for compensation.
Thanks

kingstreet

No. All they are saying is they are using different projected growth rates from those required by the regulator.

This does not affect what you will get back at maturity, it just shows a different amount that you might get back, based on the different assumptions. Just as it would make no difference to what you will get back if the assumptions were increased.

You have been compensated according to the regulator's formula. That has not changed.

magpiecottage

genises wrote: »

Hi
Am I able to go back to sunlife of Canada and the FSA to relook at this as Sun life has admitted the investment fund is different to what was assumed when the rates were fixed.Which is what the FSA used for compensation.

No they didn't.

They looked at what you would have paid off the mortgage by the time the calculation was done.

Then they looked at the ACTUAL cash in value of your endowment policies at that date.

They then gave you the difference. That meant you could have cashed in the policies and used the money, along with the redress they gave you, to reduce your mortgage and change it to a repayment mortgage over the rest of its term.

It would seem that you chose not to do so. However, Sun Life of Canada is not responsible for that decision.