Pre 1988 Endowment Shortfall

zilch

I have a 'with profits' endowment started in June 1986.
No adviser was used and it was purchased direct from the insurance company. Although an 'illustration' was provided the risks involved were not explained by the company.
It was replaced by a repayment mortgage in 1997.
I have continued paying the premium and it terminates in 2011.
I would be interested in any advice.

dunstonh

You have no avenue to complain as you didnt seek advice. It wasnt the job of NU to tell you the risks. So that option is closed.

NU arent a bad provider on the with profits front and their "upto £5000" endowment promise on maturity could close the gap. Plus you may be entitled to the orphan asset dispersal which is pencilled in for 2008.

What sort of advice do you want?

EdInvestor

Post some info for a view on what you should do with it.

Insurance company
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly premium
Maturity projections
Maturity date

Mortgage interest rate.


Have you inquired from the insurance company if they themselves sold you the policy?