MORTGAGE ENDOWMENT COMPENSATION
CLAIMS ADVICE NATIONWIDE

We are a specialist company that provides advice and representation in endowment compensation claims. We use the no win no fee scheme to ensure that there is no risk and we guarantee that there are no expenses to pay as the claim proceeds. If the complaint is unsuccessful you do not have to pay us anything at all. Our clients never pay any charges unless the claim is settled successfully. We do not use solicitors to deal with your claim we believe that they are not best qualified to settle claims involving financial issues revolving around an insurance policy. We offer the opportunity to discuss your claim with an expert at no charge and with no further obligation, and if you decide to proceed no further then you do not pay for our advice. If you would like to take advantage of our experts who will give free endowment compensation advice just complete the contact form and a specialist will phone you as soon as possible.

This problem arose mainly in the eighties and nineties with the advent of low cost policies of life insurance that were tied to a building society mortgage intended to pay off the loan at the end of the term. Unfortunately most financial advisors failed to adequately explain the financial risks during the course of the sale of the policy as a result of which with the advent of the slump in the Stock Market most policy funds were predicted to fall short of the amount needed to pay off the mortgage resulting in an anticipated shortfall.

The basic time limit for making an endowment complaint is three years from receipt of a ‘red’ letter from an insurance company which is obliged to send out letters every two years advising whether or not the policy is performing in accordance with the anticipated rates at the time of sale. An ‘amber’ letter means that the policy is at risk of underperforming in the future and a ‘green’ letter means that the policy is on target and that there is no cause for concern. The rules regulating this industry are complex and we can help by assessing whether the selling went against these regulations.

The Financial Service Authority has judged that mis-selling is caused by a confusing or inadequate level of communication and have put responsibility on the point-of-sale company who must pay the victim endowment compensation sufficient to cover the losses they suffered once mis-selling has been proved. There are a number of grounds upon which successful endowment claims can be based the most common of which are as follows :-

• The policy was not suitable based on your financial circumstances at the time and your attitude to risk.
• The policy sale failed to comply with the regulations.
• Any adviser who suggested that you cash in an existing policy and then sold you another policy is guilty of “churning” which is against the regulators rules.
• Failure to properly check income levels were sufficient to fund all payments in retirement if the policy premiums were to continue after retirement or false indication that the policy would pay off the mortgage before retirement.

The grounds outlined are not exhaustive and there are many other reasons why a policy may be deemed to have been mis-sold. Our experts have a client centred approach and will ensure that you receive fair and equitable compensation for your losses with absolutely no financial risk.