UK ENDOWMENT POLICY COMPLAINT
NATIONWIDE

We deal with endowment policy complaint claims on a no win no fee basis and if the complaint is unsuccessful we will not make any charge to you. Our endowment compensation claims are completely risk free and you will not have to fund or pay for any expenses during the course of the claim. Our clients never pay any charges unless the claim is settled successfully. If you would like free advice on the telephone, without obligation, just complete the contact form.

We are a founding member of the Claims Standards Council which is independent from the claims industry and seeks to ensure that that its members deal with consumers on the basis of decency, probity and fairness by :-

• vetting individuals and organisations seeking membership
• compliance with a transparent, thorough, end-to-end process for handing claims
• operating independent complaints and discipline arrangements

There are four main grounds which can result in a succesful endowment policy complaint as briefly explained below :-

1. Was the insurance product suitable for you?

   Your adviser should have made sure that this method of repaying the loan on the property was the best method for you depending on:

   • Your financial circumstances at the time
   • Your attitude to risk.

   Listed below are some of the reasons why the mortgage may not have been suitable for you:

   • The adviser may have said that this method was guaranteed to pay off the mortgage. Even if the assertions were made verbally you can still include the details as it may strengthen your case.
   • Other options for repaying the mortgage were not discussed fully with you.
   • The adviser didn't explain how your endowment would be invested and explain the risks involved.
   • The adviser didn't explain that this method of repayment is a long-term commitment that gives a poor return if you cash it in early.
   • The adviser didn't check you were comfortable with the risks of stock market investment.
   • The adviser should have explained that the amount you would get back depended on the performance of the stock market.

2. The sale didn't follow the rules

   These are some of the reasons why the policy sale may not have followed the financial regulators rules

   • The adviser didn't explain any fees and charges and how they affect the return you get on your savings.
   • If you bought your insurance before 1 January 1995 you should have been given product particulars including charges and cash-in values for the first five years.
   • If you bought your insurance after 1 January 1995 you should have been given a Key Features document detailing fees and charges and their effect over the longer term.
   • The adviser didn't complete a fact-find during the sales process.

3. Payments into retirement.

   If your mortgage and re-payment arrangements were set up to continue past your expected retirement age, your adviser should have checked that you would have enough income in retirement to continue to pay the mortgage and the premiums. If this wasn't discussed or you were told not to worry because the insurance would pay off the mortgage before retirement, you have grounds to claim compensation.

4. A practice known as "Churning".

   Any endowment policy you held at the time your mortgage was recommended to you should have been used to back your loan. Any advisor who told you to cash it in, and then sold you another one to replace it, was guilty of 'churning'. Not only is this appalling advice, it's also against the Financial Authority rules and gives you grounds for endowment policy complaint.