Endowment - Answers to Frequently Asked Questions

We have listed below some of the more commonly asked endowment questions.

You can select a particular topic by clicking on the question below and the link will take you straight to the answer:

Can I claim compensation myself?

How do I know if I can make a claim?

I have cashed in my endowment policy, can I still claim?

I have sold my endowment policy, can I still claim?

What is the average amount of compensation payout?

What will it cost me to claim?

Where does my compensation payment come from?

Where can I get more advice?

Who can claim endowment compensation?

 

Q - Can I claim compensation myself?

A - The quick answer is YES you can, but claiming correctly is complex and can be time consuming. You will need the knowledge to tackle the provider yourself and if your claim is refused, you will need to know what to do next. If an offer for compensation is made, will you know if it is a fair offer? Be careful to make your claim correctly or use our specialist service and be sure that the claim is made correctly first time.

Q - How do I know if I can make a claim?

A - Our consultants have many years experience and understand the rules regarding the financial services industry (FSA) and can assess whether or not your provider has failed in their duty to you as an investor. We operate a NO Win – No Fee Policy and provide our initial assessment on a free of charge basis.

Q - If I have cashed in my endowment policy, can I still claim?

A - Generally, the answer is yes, particularly if it was cashed in during the last three years. However, we will need to assess your complaint to check if you have a valid claim.

Q - I have sold my endowment policy, can I still claim?

A - In most cases, if you satisfy the qualifying criteria, then the answer is yes, particularly if it was cashed in during the last three years. However, we will need to assess your complaint to check its validity and decide if you are eligible.

Q - What is the average amount of compensation payout?

A - The industry figures show that the average compensation payout is £2750. The actual amount of your payout will depend on your individual circumstances and the amounts can vary dramatically.

Q - What will it cost me to claim?

A - Our initial advice is provided free of charge and we make no up front fee requests. We operate a No Win, No Fee compensation claims service, so if your claim is not successful then you will pay nothing, even if we take your claim through the appeal process. You only pay when we have successfully received compensation on your behalf. Our charge is 25% (plus VAT and disbursements) of what we recover. There are no hidden charges or fees.

Q - Where does my compensation payment come from?

A - The FSA legislation states that the company that gave you the initial advice regarding buying an endowment policy is responsible for paying you your compensation.

Q - Where can I get more advice?

A - Our claims experts are always happy to answer your questions and provide endowment advice regarding your endowment misselling claims, compensation or any queries that you may have

Q - Who can claim endowment compensation?

A - If you currently have an endowment policy, or have had one in the past, you could be entitled to compensation. You could still claim even if you have surrendered or switched your policy or converted to a repayment mortgage in the past.

Our aim is to make claiming as simple as possible for you by taking away all the stress, worry and effort of processing a claim yourself – Don’t delay. Claim today!