Poor endowment administration

CHARLIEANDLOLA_2

Can anyone give me some help please? I took out an endowment with Standard Life in 1989 and every year I got a statement and everything was ticking along nicely.
In 2001 when lots of Companies said their endowments might not pay off the mortgage I got a letter saying everything was fine and my mortgage was on track so I didn't need to take any action. i then stopped receiving post from standard life. every year I chased and was told that my styatement was in the post but none ever arrived.
When they went PLC I had to phone several times to get any shares as they kept saying things had been posted but I never received anything (I haven't moved since taking out the mortgage) I eventually got the shares, but still no statements and every time I called I was told that if there was a problem they would let me know.
This year I had enough of being fobbed off so spent two months phoning daily until a staff member manually printed off a statement and sent it to me - looks like I'm going to be at least £15000 short in paying off my mortgage which only has 6 years left!
When I phoned (on receiving my heart attack letter!) someone eventually said that a 'stop' had been put on my account since around 2002 saying not to send post as there may have been some returned - as I said I haven't moved and despite all my calls no one had ever checked etc so I've never had the opportunity to take any action as I thought my endowment was fine.
Any ideas whether I'm likely to get compensation or how I get it?

dunstonh

Any ideas whether I'm likely to get compensation or how I get it?

SL will have the date on file that the stop was placed and the reason and thats fine. I have seen it happen where the postman has incorrectly delivered your mail and the house it was sent to has returned it not known at this address rather than use the correct reason of mis-delivered. SL have done nothing wrong and you are not entitled to any compensation for that.

You can complain about it being mis-sold if you believe a mis-sale took place but I suggest you get the SL policy reviewed as typically most SL endomwents are nowhere near as bad as the example projection letters suggest due to limitations in the projection process.

EdInvestor

Post some info about the policy

Guaranteed sum assured
Declared bonuses
Surrender value (ring up and ask)
Monthly premium
Maturity date
Maturity forecasts
interest rate payable on mortgage