Can I make an Endowment Claim?

Endowment claims can run into tens of thousands of pounds on individual policies depending on the level of shortfall.

Endowments sold after April 1988 are covered by The Financial Services Act and can be pursued. It is unlikely that policies effected before this date are protected by this legislation.

If your adviser did not explain the risks involved with an endowment you should make a claim for compensation. The same applies if you were not advised of the various repayment options when you started your mortgage.

In order to establish your attitude to risk your adviser should have completed a fact find and if one was not filled in you should make a claim.

Where an endowment matures after your normal retirement age your adviser should have made sure you would have had an income or pension sufficient to continue paying your endowment premiums.

Where your endowment matures after the end of your mortgage this advice is questionable and you may have been mis-sold.

If your endowment policy was surrendered or sold on the second hand endowment market in the last 12 months and any of the factors above apply we can still make your case and claim for your financial loss.

If your endowment is projected to mature and leave you with a shortfall, this is not a reason on which to base your claim for compensation and you may fail to win redress.

You can claim based on the following circumstances.

• you were told the endowment would definitely repay the mortgage or was guaranteed to repay your home loan
• you were not advised of the various repayment options
• you would only be able to get a mortgage if you took out an endowment
• you were advised to surrender an existing endowment to then take out a new one
• your endowment matures later than your mortgage term
• your endowment runs past your normal retirement age

To establish if you qualify – simply complete our endowment claim questionnaire.