Mis-sold endowment policy

markus_sparkus

Hi,
Can anyone advise what to do next please as I am told by the Financial Ombudsmen that it is too late to get compensation for wrongly sold policies.
The company the policy was purchased from put in a time limit for
claims.
The policy was sold by stating that the target amount would be reached or even surpassed, and asked if I thought I was immortal.

Any help would be appreciated, many thanks.

opinions4u

If the FOS has closed the door, your only option is to go to court.

You'll lose.

The policy was sold by stating that the target amount would be reached or even surpassed, and asked if I thought I was immortal

Are you?

dunstonh

The only time the FOS will overule a time bar is if the time bar was set incorrectly (some early ones were but the revised ones they came out with have long gone by) or you have extremely good justification for not making a complaint in that period. Such as being in a coma. Thats not a joke but actually the sort of level they generally consider as its pretty hard to have a decent excuse as to why its taken you nearly 10 years to decide to make a complaint despite all the warnings.

The time bar was introduced to stop fraudulent and try-it-on complaints or have people hedging their bets (clearing indicating that they did know the risk but were waiting to see what option would be best before deciding to try it on).

luckyfool

markus_sparkus wrote: »

Hi,
...and asked if I thought I was immortal.

Any help would be appreciated, many thanks.

Presumably this was with regards to the fact the policy included life insurance.

If the FOS have told you its time barred I think you are going to be out of luck.