Report Endowment Misselling Compensation SUCCESSES

sunrise27_2

well we put in a claim a year ago and although we didn't expect to get anything in my head I was planning a world cruise lol luckily I didn't book it as we got a result today - £480 - not as much as I would liked but its ok considering I thought we were time barred and we surrendered one of the polices in 2007 and sold the other one the same year, oh well the world cruise will have to wait

Pikeman2

I've just discovered an endowment policy that my Wife and her ex took out when they bought their council house. No payments have been made on the policy for about 8 years and it matures in 2018. Is it too late for her to claim?

dunstonh

Pikeman2 wrote: »

I've just discovered an endowment policy that my Wife and her ex took out when they bought their council house. No payments have been made on the policy for about 8 years and it matures in 2018. Is it too late for her to claim?

Over 3/4 of endowments are timebarred from complaint. Is hers? (you get three years from being warned of a high risk of a shortfall. Most of those started being issued in 2003/4).

So, is she timebarred? (i suspect the fact it has been paid up for 8 years means that the 3 year time bar could easily be applied)
What would be the complaint reasons?
Is she still contact with her ex? (as the complaint would be jointly made).

sm1862

We got a letter from our endowment provider saying that the last day we can claim for mis-selling was 8th May 2015, I sat on this letter (not literally) for a couple of weeks.... phoned them 7th May not really thinking we would get much as we converted to repayment after 10 years and we lucky enough to clear that 3 years ago.

Got a letter today giving compensationof £16,800.

We are absolutely gobsmacked.

CLAIM CLAIM CLAIM
IF IN DOUBT, CLAIM
DONT THINK YOU ARE DUE ANYTHING?? CLAIM CLAIM CLAIM

richardtracey

Hi please
can any one forward a template/letter for reclaiming miss sold endowment policy.

Cheers, in advance

dunstonh

richardtracey wrote: »

Hi please
can any one forward a template/letter for reclaiming miss sold endowment policy.

Cheers, in advance

The endowment issue is virtually dead now. Over three quarters of them are now timebarred from complaint.

As template letters reduce your chances of success (as they tend to include things that do not apply to you) its best you dont use one. You just state your reasons for complaint. However, it may be an idea to find out if your endowment is timebarred from complaint. Asking the insurer that question should give you an answer or just look at your statements. You have three years from being first notified of a high risk of a shortfall to raise a complaint (typically a shortfall figure on the mid rate projection). Most of these were issued around 2004 onwards.

cazashone

hi can any one advise me as we were time barred by friends provident in april 2004 due to 2000 reprojection letter with five options last one wait and see and second letter sent 2002 we went to ombudsman with exceptional circumstances medical but still refused. so can we now ask for new case be looked at as it seems our reason for time bar original letter the sites are saying that this first letter was not reason to be time barred our high risk letter had a two thousand shortfall at 8% projection

dunstonh

cazashone wrote: »

hi can any one advise me as we were time barred by friends provident in april 2004 due to 2000 reprojection letter with five options last one wait and see and second letter sent 2002 we went to ombudsman with exceptional circumstances medical but still refused. so can we now ask for new case be looked at as it seems our reason for time bar original letter the sites are saying that this first letter was not reason to be time barred our high risk letter had a two thousand shortfall at 8% projection

No. Its game over for you. Timebars exist to put an end to the issue.

The endowment timebar was either 6 years from commencement of the policy or 3 years from being reasonably aware of an issue. The statements showing a potential shortfall were the trigger to allow the timebar clock to start ticking.

If you disagree with the timebar implementation then you can refer your case to the FOS. The FOS will decide whether the timebar was followed in accordance with the regulators guidelines. In your case, they agreed they were.

cazashone

hi there thanks for the reply i have been looking on the site for any information and you posted on 25th january 2015 that friends providents early time bar letters failed to meet the required standard and that from 2001 onwards they were doing time bar. so this is what my query is that our reprojection letter july 2000 was not sufficient to start ball rolling so it should have been our 2002 letter that commenced the ticking clock?

dunstonh

cazashone wrote: »

hi there thanks for the reply i have been looking on the site for any information and you posted on 25th january 2015 that friends providents early time bar letters failed to meet the required standard and that from 2001 onwards they were doing time bar. so this is what my query is that our reprojection letter july 2000 was not sufficient to start ball rolling so it should have been our 2002 letter that commenced the ticking clock?

Some of the earliest timebar letters were deemed insufficient to start the time bar clock. However, the 2001 versions were (and the 2001 versions replaced the 2000 versions. So, instead of being able to time bar by 2003 they had to wait until 2004.

When did you put your original complaint in? (before or after 2004)