Endowment Policy - Time is not on your side
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by: shaunyboy
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Today many of the life companies responsible for the endowment scandal are desperately trying to limit their potential exposure to loss, as a result of compensation claims being won in the favour of their poorly informed customers. Following talks with life insurance companies that offer endowment mortgages, the Financial Services Authority (FSA) has put in place an extraordinary procedure that time-bars complaints regarding miss sold endowment policies, if they are made after a specific date. This is currently being questioned on ethical grounds through the Financial ombudsman Service (FOS) by both actuaries and practising endowment claim handlers.
Unless you make your endowment complaint about a missold policy within this time bar, you will lose your chance to do so forever. According to statistics, even back in 2004 some 700,000 people had already been time-barred from making a complaint or endowment claim regarding a missold endowment policy. This number is growing rapidly so don't be left behind, after all it's your money so try to claim your endowment compensation today.
The life companies now write to their customers informing them that the policy is in trouble and that they should do something about this. Now here's the catch, if you don't act within a specified time period you apparently lose the chance to claim altogether. In reality what this means to the average policy holder is simple, your life insurance company is trying to pull the rug from under your feet stopping you from making a claim to the compensation that is rightfully yours.
Unless you make your endowment complaint about a missold policy within this time bar, you will lose your chance to do so forever. According to statistics, even back in 2004 some 700,000 people have been time-barred from making a complaint or claim regarding a missold endowment policy. This number is growing rapidly so don't be left behind and try to claim your endowment compensation today. For a more detailed explanation of what's going on and how this relates to your own policy try our endowment claim guide, you'll find a quick and easy method of submitting your policy details to an endowment claims expert. The information and guidance they offer is very usefully, but they will also take the case on a no win no fee basis, so you can be confidant about the likely outcome. If you think you may be entitled to claim or even if you don't, it's worth an average of £5000 per successful claim so it's worth being sure.
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For more information about this and other endowment policy issues visit Orchard Endowments.
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