Endownment Miss-selling

madijon

Can anyone help?


I have received letters in the past from Aviva informing me that my policy is expected to be between £5000 - 10,000 short of its target amount (due to mature Apr 15).


I have contacted both them and the FSCS, and both organisations have stated I am not eligible for compensation.


Is that the end of it! Or is there another route?


Regards J

McKneff

You are way past the time bar, why didn't you deal with it when you got your letters.


Even when people did claim, it wasn't a case of compensation. It was a case of putting people
back into the position they would have been had they gone for a repayment mortgage.

mrginge

Failure to achieve estimated performance is not a valid reason for complaint.

madijon

McKneff wrote: »

You are way past the time bar, why didn't you deal with it when you got your letters.


Even when people did claim, it wasn't a case of compensation. It was a case of putting people
back into the position they would have been had they gone for a repayment mortgage.

By compensating!!!

dunstonh

Aviva have applied the time bar on most of the endowments. You had three years from first being notified of a shortfall. Most of these went out in the early 2000s. Some of the Aviva ones were a bit later and most hit time bar around 2008/9.

Aviva only have liability if its a policy that Aviva sold.
FSCS only have liability if it was bought after August 1988 and the agent that sold it no longer exists and it was sold under advice.

By compensating!!!

By redress. Not compensation.

madijon

Thanks all for your comments. What about these companies who offer to fight the poor performance? Worth looking-into or not!

mrginge

madijon wrote: »

Thanks all for your comments. What about these companies who offer to fight the poor performance? Worth looking-into or not!

Did you read my post?

jimjames

madijon wrote: »

Thanks all for your comments. What about these companies who offer to fight the poor performance? Worth looking-into or not!

What grounds would they fight for you?

Poor performance isn't one

dunstonh

What about these companies who offer to fight the poor performance?

There are no such companies as the FCA does not allow complaints about performance.

madijon

Thanks for you comments. I was referring to companies such as Consumer Protection Services LTD, who will investigate the investment (endowment) suitability.


Or do I just except a lower than expected amount?


Regards

mrginge

Your actual expected amount is zero.
However, since you're not paying any attention to these posts you should expect to receive £10,000 which will then be reduced by anywhere between 0 and 100%.