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Was I miss sold?
deanjohnbailey
Posts: 1 Newbie
Hello All,
I need to know your thoughts on two endowment policy's with the Pru. One when I coming up to 18 years old in 1985 which was a 25 year low cost endowment which had a sum assured of £11700 which had a life assured part of £30000 if I died before the policy ended (though looking back why I would have taken this out when I was 17 years old).
The second was in August 1989 for 22 years sum assured £10500 no life assured was in this policy and no target ammount was given. They both cost within 77p of each other a month and in both cases were not taken out against a mortgage/house purchase.
My question is was I miss sold these policy's in that a) would you sell life with such a policy to a 17 year old in the case of the first policy, now knowing that commision on this would be good for the company, and b) that I had asked if I could top up my first policy but told was unable and was advised by the man from the Pru to take out the second policy which was an endowment. All I was doing was asking for a saving/investment plan for later in life.
Hope this was clear just like your thoughts beforeI take it futher or take it that I was correctly advised.
I need to know your thoughts on two endowment policy's with the Pru. One when I coming up to 18 years old in 1985 which was a 25 year low cost endowment which had a sum assured of £11700 which had a life assured part of £30000 if I died before the policy ended (though looking back why I would have taken this out when I was 17 years old).
The second was in August 1989 for 22 years sum assured £10500 no life assured was in this policy and no target ammount was given. They both cost within 77p of each other a month and in both cases were not taken out against a mortgage/house purchase.
My question is was I miss sold these policy's in that a) would you sell life with such a policy to a 17 year old in the case of the first policy, now knowing that commision on this would be good for the company, and b) that I had asked if I could top up my first policy but told was unable and was advised by the man from the Pru to take out the second policy which was an endowment. All I was doing was asking for a saving/investment plan for later in life.
Hope this was clear just like your thoughts beforeI take it futher or take it that I was correctly advised.
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