Time-bar on complaints

tldkid

How strong is the time-bar on endowment mis-selling complaints? I missed mine by 6 months :mad: and Lloyds have dug in their heels. Will the Financial Ombudsman also kick it out on this basis?

dunstonh

If the time bar is applied correctly, the FOS will side with the provider.

If its an old black horse endowment, dont be too disapointed as they use a unit linked fund range and some of their funds are not too bad and performance should generally out perform the required target growth rate (most of which where 4.4% or 6%, although a few were at 7%). Also, some of theirs had an increased allocation rate in later years and that can make them quite good value going forward. Get the policy reviewed

tldkid

Thanks for a quick reply. I will as it is an old Black Horse Policy for £8k.
I have another one for £14,260 and have been offered a surrender value of £6693. I pay £42/month until June2013. Shortfall is £3k at 6%. Is it worth keeping?