L&G With Profits Endowment

Old_Lifer

I have no experience of ReAssure so I cannot provide a knowlegable reply.


Other regulars such as Dunstonh or Weighty may have recent experience and may have thoughts on this.

RUMPLESTILSKIN

Dear Sir, many years ago I took out an endowment mortgage with L. & G. it was for a £25,000 mortgage. When we were sold this, we were told by the salesman it would definitely cover our mortgage. BUT would almost certainly pay out in the region of £40,000. When it did mature we got a little over £25,000 So when I heard Martin on the T.V recently talking about miss sold endowments I got in touch with L. & G. The lady I spoke to said yes, they have record of me having a policy with them. But all the info would be in the archives. She said she would pass on my question to that department. The next day I got an email from them saying they required a policy number. Oh dear, it matured a bout 15 years ago. The email said without the policy number there was nothing they could or would do to help me. I have been in touch with my ex wife to see if she had any information. Sadly no. Is there any hope at all of getting what I feel we def deserve? Can anyone help us PLEASE?

you_llneverwalkalone

Old_Lifer wrote: »

I have no experience of ReAssure so I cannot provide a knowlegable reply.


Other regulars such as Dunstonh or Weighty may have recent experience and may have thoughts on this.

I,ve never heard of them before today either.


Searching on the internet it seems these are a company that are very slow in paying out maturing policies & for some reason they pulled out at the last minute of floating on the stock exchange last month.


It seems the vultures are also circling around these with a takeover any day soon as well.


Not happy I have no say in this transfer. Hopefully the high court block it from going ahead.

AnotherJoe

RUMPLESTILSKIN wrote: »

Dear Sir, many years ago I took out an endowment mortgage with L. & G. it was for a £25,000 mortgage. When we were sold this, we were told by the salesman it would definitely cover our mortgage. BUT would almost certainly pay out in the region of £40,000. When it did mature we got a little over £25,000 So when I heard Martin on the T.V recently talking about miss sold endowments I got in touch with L. & G. The lady I spoke to said yes, they have record of me having a policy with them. But all the info would be in the archives. She said she would pass on my question to that department. The next day I got an email from them saying they required a policy number. Oh dear, it matured a bout 15 years ago. The email said without the policy number there was nothing they could or would do to help me. I have been in touch with my ex wife to see if she had any information. Sadly no. Is there any hope at all of getting what I feel we def deserve? Can anyone help us PLEASE?

What do you think you "deserve"? If its £15k (eg "promised" £40k-£25k payout) , i have a bridge i can sell you.

SonOf

ReAssure are a well known company in financial services. They also have Barclays Life, HSBC Life and a whole load of names an average consumer may have heard ot.

However, it is unlikely the average consumer knows any of the best financial services brands. Just the ones that ran adverts periodically (and most of those are not best).

L&G have been largely out of the game for a decade. They have wanted shot of their book for a long time. It would have either been Phoenix or Reassure who bought it. So, all in line with expectation and I would be happier with ReAssure than L&G. However, in reality, there will be little difference. Same funds, same computer systems, same staff.

Not happy I have no say in this transfer. Hopefully the high court block it from going ahead.

Its a formality to pass. The High Court have blocked no others and ReAssure are financially sound.

you_llneverwalkalone

SonOf wrote: »

ReAssure are a well known company in financial services. They also have Barclays Life, HSBC Life and a whole load of names an average consumer may have heard ot.

However, it is unlikely the average consumer knows any of the best financial services brands. Just the ones that ran adverts periodically (and most of those are not best).

L&G have been largely out of the game for a decade. They have wanted shot of their book for a long time. It would have either been Phoenix or Reassure who bought it. So, all in line with expectation and I would be happier with ReAssure than L&G. However, in reality, there will be little difference. Same funds, same computer systems, same staff.


Its a formality to pass. The High Court have blocked no others and ReAssure are financially sound.

Well reading the horror stories about ReAssure does not fill me with any confidence one little bit.

Maybe the same funds but definitely not the same computer systems & staff who,s customer service skills are poor to say the least with them taking 10 working days just to respond to general queries. Ignores customers complaints & you have to send all correspondence to them via special delivery as they just deny receiving it if you do not. I could go on & on.

Yes there are companies just like them but I,ve never experienced the above ever with L&G.

Hopefully the vultures do swallow these up asap before my policy matures as they seem a bit of a mess of a company.

SonOf

Well reading the horror stories about ReAssure does not fill me with any confidence one little bit.

Ignore so called horror stories.

ReAssure buy dead or near dead insurance company books. The problems already existed with those. If you look at the earlier complaints that Reassure bought, they run better than the when they were at the legacy company.

Yes there are companies just like them but I,ve never experienced the above ever with L&G.

I suspect your experience is not very much in this area and you are relying on duff internet info about other legacy companies they have bought. In most cases, where there have been issues, the issues were already there when owned by the legacy company.