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Endowment
Peterd_2
Posts: 1 Newbie
I am with London Life for my endowment when they sent the red letter they stated that they would give a price promise on my endowmwent of £850. I decided to claim for miss selling and received compensation. When my endowment matured the took off the price promise from the pay out. Are they allowed to do this?
Peterd
Peterd
0
Comments
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yes they are.Are they allowed to do this?
If your complaint is upheld, then the mortgage endowment promise (MEP) is no longer required to be paid as the redress payment you received following the complaint does not include the MEP in the calculation.
So, on maturity, they quite correctly and understandably remove it. Effectively, you would be getting it twice if they didnt.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
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