We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

endowments

Options
hi
i have had a endowment for 12 years now, i wrote to them about 2 weeks ago stating that i was missold it and that it has under preformed ,I got a letter back today from Clerical Medical saying that they did not sell me this endowment it was a independent adviser, but my point is its there endowment.
Can someone advise me
regards
Jason

Comments

  • kingstreet
    kingstreet Posts: 39,254 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you were mis-sold, then surely it is the person who sold it to you, who is responsible?

    The banks are being held responsible for mis-selling PPI, not the insurers who issued the contracts.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • dunstonh
    dunstonh Posts: 119,640 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I got a letter back today from Clerical Medical saying that they did not sell me this endowment it was a independent adviser, but my point is its there endowment.

    Clerical Medical did not sell you the endowment so they cannot have mis-sold it.

    If you believe the endowment was mis-sold then you complain to the person that sold it to you.

    You do need to be aware that the FSA do not allow complaints about performance as that is always an unknown. So, if you complaint was just about it "underperfoming" in your opinion then they can reject that.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • I have an endowment with Clerical Medical due to Mature in May.

    I was persuaded to buy this by Lloyds TSB and about 9 years ago I submitted a miss-selling claim using the template from the 'which' website. Of course Lloyds rejected the claim initially but the ombudsman found in my favour and I received about £3200.

    I expect the maturity value to be at least £30,000 plus whatever terminal bonus (if any). Luckily I have paid off the £45,000 mortgage. I will post the final values when I know the final outcome.
  • Hi Andy, I have a CM due up in October. Would be interested to hear what yours does next month.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.