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Already Cashed In Endowment Policy
JEAN_3
Posts: 2 Newbie
After Looking At Our Endowment Policy Projections It Was Clear To See That The Policy Would Not Cover Our Mortgage At Term,so We Decided To Cash It In And Change To A Repayment Mortgage. This Was Six Years Into The Policy. Does Anybody Know If We Still Have Grounds To Make A Complaint About The Shortfall?
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Comments
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A policy only 6 years in is going to have a shortfall showing even if its the best endowment in the world. That is one of the failings of the projection system.
You cannot complain about having a shortfall. You can only complain if the product was mis-sold to you.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks I Dont Believe That They Actually Explained How The Longterm Investments Actually Worked In Full, So, Perhaps It Is Worth A Try0
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If you think you were mis-sold, then you have grounds to make a complaint. If the provider/advisor cant prove otherwise, then you have a chance.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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