UK ENDOWMENT SHORTFALL
SPECIALIST ADVICE
We are a specialist firm dealing with endowment shortfall claims for underperforming insurance policies which have been miss sold by a life company, broker or solicitor. We operate on a no win no fee basis and our claims are completely risk free. We guarantee that if you do not receive compensation then you will not be charged a penny. If you have received a 'Red' or 'Amber' letter from your life assurance company indicating that your policy is at risk of a shortfall and you would like free advice without obligation then just use the phone number or complete the contact form and an expert insurance actuary who is registered by the Financial Services Authority will give free advice without any further obligation.
Limitation refers to the time period after which a claim becomes statute barred which means that after that time period has passed the opportunity to claim compensation is lost forever. In the case of compensation for a miss sold mortgage the time period is three years from the receipt of the first red letter from the insurance company which warns that the fund will not pay off the mortgage loan. Insurance companies must send out ‘shortfall announcements letters’ to their customers every two years advising them of the current position with regard to their investment fund and the letters are coloured green, amber or red. A green letter means that the fund is on track to reach the desired sum, an amber letter means that the fund is in some difficulty and a red letter indicates that it is anticipated that the fund will not achieve the amount necessary to pay off the mortgage loan.
These time limits have been imposed by The Financial Services Authority however they clearly operate in favour of any company that is likely to receive a claim for endowment shortfall and it is therefore important that qualified advice is taken as soon as a red letter is received to ensure that the potential claim does not become extinct due to the lapse of time. Action to claim compensation can only be taken upon receipt of the red letter and even after receipt of the second red letter their should be enough time to make application and settle a claim for compensation.
Whilst most insurance companies use these rules to their advantage to refuse out of time claims, a number of companies will settle claims even if the time period has been exceeded. The number of companies that look after their customers in this way is reducing month by month as the insurance companies realise the extent of their financial exposure with over 6 million potential claims averaging £6,000 each being valued at over £30,000,000,000 in total. Our expert insurance actuaries are able to negotiate settlement of these claims in certain circumstances even after the expiry of the limitation period. If you have received a red letter in the past you should urgently contact us even if you believe that you have missed the opportunity to claim. Our advice is free and we only charge if we are successful in obtaining compensation on your behalf.
