Lapsed endowment. Can I still get a pay out?

lingee

I took out a 25 year endowment in 1987 and within about four or five years it was costing over £1000 a month so I couldn't continue paying. I think I stopped paying in in around 1991 or so.

I took out the endowment with Windsor Life as a First Time buyer.

I believe that I am outside the time to claim mis selling.

However. 25 years is up and I'm wondering if there is anything still in my name and if so, is there anything I can claim?

Any ideas people?

HNY by the way!:beer:

TrickyDicky101

The payments into an endowment are usually fixed at the start (unlike the interest due on the outstanding mortgage amount taken out at the time which would increase/decrease in line with changes in interest rate applicable to the mortgage) so it is unusual that the monthly amounts varied.

Or do you mean you had to sell your house to repay the mortgage balance and stopped making the payments into your endowment?

Who was the endowment with? It is possible it has some value although it is also possible that the provision of life cover - should it have continued beyond the payment cessation date - may have consumed any remaining value within it.

Annisele

£1,000 per month is *extremely* expensive for an endowment policy in 1991. Are you sure the premium was that high? Or was the £1,000 your total payment including your mortgage?

If the policy actually lapsed, as you say in your title, then there won't be anything left to claim. If something else happened, then there *might* be.

dunstonh

I believe that I am outside the time to claim mis selling.

Pre regulation (april 1988). Over 3/6 years since your surrendered. And surrendered a decade before shortfalls on endowments started to appear. Pretty much stuffed on any of those things.

However. 25 years is up and I'm wondering if there is anything still in my name and if so, is there anything I can claim?

Lapsed means the policy ended without value. Do you mean lapsed or are you guessing terminology? If the policy retained a value and became paid up then an annual statement would continue to have been sent. Have you checked with Windsor to verify the policy has a value or not?