Endowment Policy

needtogetclear

hi

I have just found out that I had an endowment mortgage. Can you still claim for endowment mortgage ????

thanks

dunstonh

Claim what for an endowment mortgage?

Have you suffered a claimable event? obviously you are not dead as you wouldnt be typing but your spouse/partner maybe and if you are still paying premiums then yes you can claim.

If it is the mortgage then what is it about the mortgage that you want to claim on.

or do you mean complain? in which case is your complaint against the endowment or the mortgage and what is the complaint?

needtogetclear

ok thanks for responding.

I took out a endowment policy about 20 years ago. I paid off my mortage about 15 years ago and cashed in the endowment. But the endoment was under valued.

I've been told by a friend that I can claim because the endowment was misold and it didn't yeild as it should how done.

What do you think ? have I got a claim ?

dunstonh

I've been told by a friend that I can claim because the endowment was misold and it didn't yeild as it should how done.

Your friend is wrong.

Even if you still had the endowment, you would find over three quarters or them are timebarred from complaint. Also, you have 6 years from commencement or 3 years from being reasonably aware there was a problem to make a complaint. You are now 15 years on. Plus, endowments didnt start falling into shortfall until around 2001. You surrendered yours in the mid to late 90s. So, shortfalls would not have been an issue then. Even if shortfalls were an issue then, a shortfall is not grounds for complaint. You have to have a complaint reason.

What do you think ? have I got a claim ?

bottom line is that you are out of time even if you did have a complaint reason.