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Mis-sold endowment
dmwg40
Posts: 51 Forumite
Hi
I just found out my parents have an endowment policy is it too late to get compensation.They just had a Red alert letter saying High risk of shortfall.
the policy is due to mature in June 2013 .
the shortfall at 5.2% is £5,200 at 6% its £3,700 and 8% £2,000
Policy is with Abbey Life and mortgage is with Woolwich.
currently writing a letter to Abbey life using the Which template.
cheers in advance
I just found out my parents have an endowment policy is it too late to get compensation.They just had a Red alert letter saying High risk of shortfall.
the policy is due to mature in June 2013 .
the shortfall at 5.2% is £5,200 at 6% its £3,700 and 8% £2,000
Policy is with Abbey Life and mortgage is with Woolwich.
currently writing a letter to Abbey life using the Which template.
cheers in advance
0
Comments
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If its too late then I wouldnt waste your time. Time bars are enforced with only genuine reasons for why its taken more than 3 years to complain allowing an overrule.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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When was the policy taken out? If it was pre 1988 then I wouldn't bother, but if it was after that then some companies are still looking at them as an official cut off date was never put in place.
Hope this helpsThe two best things I have done with my life
:TDD 5/11/02 :j DS 17/6/09 :T
STOPTOBER CHALLANGE ... here we go !!0 -
june 1988 it was taken out0
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You need to check the review letters to see if a final date to complain has been given.0
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ok cheers for that0
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1988 date doesnt matter for Abbey Life. Its the time bar that matters here.
I have re-read your first post and I read it as you saying it was time barred. However, reading it again, you appear to have have either missed off the question mark or have a word missing.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 -
sorry no idea what a time bar is ?0
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