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ENDOWMENT MISS SELLING TIME LIMITS

We deal with endowment miss selling claims on a no win no fee basis and if the complaint is unsuccessful we will not make any charge to you. Our claims are completely risk free and you will not have to pay for any expenses during the course of the claim. If you would like free advice on the telephone, without obligation, just complete the contact form.

The Financial Services Authority have imposed time limits and claims can effectively become time barred allowing justifiable rejection by a life company of a claim that would otherwise be valid. These time bar rules obviously operate in the favour of the company that sold the policy and it is therefore important that qualified advice is taken at a very early stage to ensure that the potential claim does not become extinct merely due to the lapse of time.

Time generally starts running once the company have informed a customer, in writing, of a potential shortfall in the format of a ‘red’ letter known as a ‘shortfall announcements letter’. Life companies are very efficient in dealing with these letters as it is in their interests to ensure that the clock starts running in order to preclude a potential claim as soon as possible by allowing the relevant time limit to expire. The general rule is that a claim must be instigated within 3 years from receipt of the first ‘red’ shortfall announcements letter. These complicated regulations may affect your right to successfully claim compensation and you should take qualified advice at an early stage and certainly immediately following receipt of any correspondence warning of a potential shortfall.

In general terms if you instruct us to deal with your endowment miss selling claim, most settlements will be achieved within twelve months, and in many cases the period will be substantially less. We deal with claims on a no win no fee basis and if the claim is unsuccessful we will not make any charge to you. We will not ask you to fund or finance the claim as it proceeds and you will not have to pay for any expenses during the course of the claim.

The Financial Services Authority (FSA) requires life companies to complete their investigations within eight weeks but in practice due to a heavy workload these initial investigations can take considerably longer. If the company refuse or repudiate the claim on the basis that the policy was not miss sold it will then be necessary to make a complaint to the Financial Ombudsman Service who will carry out further investigation to establish whether or not a valid claim exists.

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