Endowment Policy (not tied to mortgage)

PeteTheHat

When I was born, my parents set up an endowment policy which matured when I turned 21. Right up until this age we were all under the impression that the amount available on my 21st birthday would be a minimum of £25K and as much as £35K (we have a letter from the company to this effect). As it turns out, I received about £12K. A very ambiguous explanation was given as to why this was. Something to do with life insurance contributions. One thing is clear, my parents would not have agreed to this had they known at the time that there was a ANY chance that this would have happened. They feel that they were mis-sold this investment product.

When searching on-line for a company that can help with this, I can only find ones which help people who have been mis-sold the mortgage endowment policies. Is there a specialist who can help me asses the case to see if I have a claim?

dunstonh

Is there a specialist who can help me asses the case to see if I have a claim?

No. As there is unlikely to be any wrong doing and its not an area a template letter can really be used.

The FSA does not allow complaints about investment returns.

Right up until this age we were all under the impression that the amount available on my 21st birthday would be a minimum of £25K and as much as £35K (we have a letter from the company to this effect).

If you have it in writing that you were guaranteed to be paid out a given amount then you have very strong grounds for complaint. However, if you are referring to a product illustration from the late 80s showing two or three hypothetical figures that are not guaranteed then you dont have any grounds.

Can you tell us the company and the actual date of sale (as its close to pre-regulation) and if it was an insurance agent (of the insurer) or accountant, solicitor or IFA that sold it?

Can you also tell us what proof you have to back up your complaint?