mis-selling of my endowment

traindriverc2c

Hi,

I took out an abbey life (now with royal london) endowment back in 1997. In 2001 I moved and took out a repayment mortgage leaving the endowment as an investment. Since 2001 until present day 28/05/2010 I have not recieved any letters regarding my endowment. Phoned royal london to trace how much my endowment is worth and they told me that they have no trace of any address on their records (this being the reason for no correspondence for the last 9 years).

Can I still claim for mis selling of my policy as I recieved no letters (warning or otherwise) due to lack of address and that it is now may 2010 and probaly way past any deadline set.

Thanks for your help

Dean

hansi

I assume you have kept records of whom you took the policy out with? What was your address at the time. Sorry, but this sounds a bit unbelievable, you took out a policy and did not tell them your change of address????? Why did you not query that you did not receive annual statements earlier??????

Annisele

Hansi - sadly it's quite believable IMO. I do think that the OP was pretty dozy (sorry OP), but I've come across many people who seem to think that insurance companies will magically know where they've moved to.

To the OP - if you don't try you won't know. But you might have a problem persuading anybody that you didn't know of the risks in 2001 - why did you take a repayment mortgage otherwise?

hansi

I think the OP is probably out of time anyway. But someone must have a record somewhere. What's happened to all the money that's been paid in. Didn't the OP query his Direct Debits over 9 years:eek: Sorry but I think this is either a spam message or if it's not, then it's crazy. If it was me, I'd be tearing my hair out by now, in fact I wouldn't have let it go this long. I'd want to know why I hadn't received my annual statement.:eek:

DVardysShadow

traindriverc2c wrote: »

Hi,

I took out an abbey life (now with royal london) endowment back in 1997. In 2001 I moved and took out a repayment mortgage leaving the endowment as an investment. Since 2001 until present day 28/05/2010 I have not recieved any letters regarding my endowment. Phoned royal london to trace how much my endowment is worth and they told me that they have no trace of any address on their records (this being the reason for no correspondence for the last 9 years).

Can I still claim for mis selling of my policy as I recieved no letters (warning or otherwise) due to lack of address and that it is now may 2010 and probaly way past any deadline set.

Thanks for your help

Dean

Dear Dean,

Please let us know your address as we do not have it on file

Yours sincerely

Hmm. The issue is not mis selling AFAICS, because you have not been missold - you were quite happy with the policy. Your problem is that your policy has disappeared from their records. Or am I missing something?

opinions4u

traindriverc2c wrote: »

I took out an abbey life (now with royal london)

Abbey Life was owned by Lloyds TSB last time I looked. I suggest you try them.

If you are still paying by direct debit, your bank will have a reference number that relates to the policy.

traindriverc2c

Sorry, I didn't explain myself very well, I know where my policy resides, with abbey then it changed hands to royal London. My policy was and has never been missing. They never had my new address on their system and as such have never received any correspondence whether it be statments or warning letters of it not performing as well as expected. I have now got my policy number and how much it's worth and a surrender amount.

So do I have a case for mis selling in 1997 as well as many other thousands of people who were foolish and have been paid out. Wish I had hair to pull out!

opinions4u

traindriverc2c wrote: »

Sorry, I didn't explain myself very well, I know where my policy resides, with abbey then it changed hands to royal London.

Abbey National Life and Abbey Life are two different companies, hence the confusion.

My policy was and has never been missing. They never had my new address on their system and as such have never received any correspondence whether it be statments or warning letters of it not performing as well as expected.

Your fault, or theirs? If it's theirs, can you prove it?

So do I have a case for mis selling in 1997 as well as many other thousands of people who were foolish and have been paid out. Wish I had hair to pull out!

If it is time barred and you failed to tell them your new address, then you have no case.

If they have failed to register your correct address (and you can prove this) then you should not be time-barred. In which case, why do you think it was mis-sold?

traindriverc2c

I'll give it a go and go though the complaints procedure and accept their decision. Meanwhile I have got a surrender valuation and a sell on valuation. Which gives me more than what I put in.