endowment help please

EdInvestor

You might be better off focussing on how to repair the damage than pursuing the complaint, as often the amount of redress is much lower than expected anyway (it doesn't cover the shortfall).

Post some info about the policy so we can have a look.

Provider's name
Guaranteed sum assured
Declared bonuses
Surrender value
Maturity date
Maturity forecasts
Interest rate payable on mortgage

Danielle_W

Thanks to you both for your advice and help.

We have already changed to a repayment mortgage and have kept the endowment now as a savings policy (not that they are going to give us much back) As it stands at the moment we have paid more than it is worth but we have been advised to keep it as they may increase - who knows what will happen in the future. It has about 10 years to run.

Just so disheartening as we know what we were told. There were other matters that arose also which sadly the Ombudsman will not take into consideration plus when we last moved the removal people lost alot of the papers regarding this.

Some you win some you loose - so is life. It has been a big learning process for us. We are maturer and not as gullible now!

Thanks again for your help

EdInvestor

Danielle_W wrote: »

we have been advised to keep it as they may increase - who knows what will happen in the future.

We can make a pretty good guess, but only if you provide the details. Most endowments are not worth keeping.A few are.

Danielle_W

Hey thanks for that. Will hunt out the stuff and get back to you