Endowment Policy is this PPI?

lizmoney

I had an endowment policy with a mortgage which has not matured at the target/anticipated level.


Does this qualify as a PPI claim?

kingstreet

No. It would be considered an endowment mis-sale if you were promised a return which has not been achieved.

However, the time may have passed in which you can make a complaint about this. When did you buy the endowment product and from whom?

dunstonh

Does this qualify as a PPI claim?

PPI is a specific product. An endowment is a specific product. You cant have a PPI claim on an endowment.

I had an endowment policy with a mortgage which has not matured at the target/anticipated level.

Which is of no surprise to you as the annual statement has probably been telling you this for the last 15 years. So, why do you want to complain now?

mrginge

Have there every been any successful claims based on a provider actually promising a specific return?

dunstonh

mrginge wrote: »

Have there every been any successful claims based on a provider actually promising a specific return?

None that I am aware of. The redress calculation on successful complaints was a comparison against repayment vs endowment upto the point of complaint. However, if you leave it to maturity to complain then its almost certainly timebarred.

That was one of the reasons why the time bar was introduced. To prevent people from hedging their bets and putting in an opportunistic complaint after maturity.