Old Joint Mortgage Endowment Issue

BumbleBe

Hi, I wonder if anyone can help please.

Back in around 1993 I took out a joint mortgage endowment policy when I brought my first house with my now Ex.

We paid this mortgage endowment policy for around 6 years, during which time we then also had taken out a smaller separate endowment each.

We broke up in 1998, I carried on paying the endowment until I sold the house in around 1999.

In 2002 I decided to cash in the policies, but quite rightly was told I could only do my separate one as I would need my Ex's signature for the joint policy.

Years later (2015) I have finally found my Ex, so contacted L&G, who has in turn said that my separate policy was paid in 2002 (they quoted the amount £3k and how they paid it to me) but said the other two policy's (they quoted the policy numbers to me as I did not have them) they can not comment on as they only keep details for 6 years, they therefore the policys are Not In Force, assumed lapsed or surrendered.

Is there anything I can do to still get my money paid out? What exactly are they saying here? The joint policy was for a larger amount than my separate one, which paid out at over £3k.

Any help would be appreciated- thanks. 🐝

Annisele

It's possible that when you stopped paying the premiums, L&G used the money already in the endowment policy to pay for the life cover. After a few years of that, the money might have run out - hence the endowment lapsing without value.

However, if L&G can tell you your policy was surrendered in 2002, and you think the joint policy was still in force in 2002, I'd be surprised if L&G has no records at all. It's a long shot, but is there any chance the two policy numbers they're quoting are for different policies, and not the joint one with your ex? You've tried giving them all names that you and your ex have ever been known by, your dates of birth, and all the addresses you've ever had?

BumbleBe

L&G have all our details, or name, DOB, addresses etc.

L&G said that they only hold records for 6 years therefore do not have the details on the two remaining policys as they are not in force (I guess they mean still active). They then said "this 'could' mean they are lapsed or surrendered but unfortunately we do not hold the details for those two contracts."

I just don't understand how they have 'all' the details on the one policy which I did surrender but no details on the two that I didn't. Back in 2002 when I enquired about the policys all 3 had a surrender value, it's just that without my Ex I could only surrender one.

anselld

BumbleBe wrote: »

L&G have all our details, or name, DOB, addresses etc.

L&G said that they only hold records for 6 years therefore do not have the details on the two remaining policys as they are not in force (I guess they mean still active). They then said "this 'could' mean they are lapsed or surrendered but unfortunately we do not hold the details for those two contracts."

I just don't understand how they have 'all' the details on the one policy which I did surrender but no details on the two that I didn't. Back in 2002 when I enquired about the policys all 3 had a surrender value, it's just that without my Ex I could only surrender one.

I agree, they have shot down their own statement.
Did you ask them how they explain having the records for the surrendered policy if they only keep them for 6 years as they claim?