MYTH 1. Everything is time-barred
Generally speaking, endowment policy holders have to complain within three years of receiving their first warning letter, or within 6 months of receiving a second warning ‘red' or ‘amber' letter - whichever comes last. However, if you haven't received one of these letters, your complaint is unlikely to be time-barred.
MYTH 2. You can't complain if your policy has matured or you've surrendered it.
Regardless of this, you have a right to complain if the policy was originally mis-sold to you and you suffered losses as a result.
MYTH 3. You can't complain if the firm that sold you the policy is no longer in business.
There is an industry-funded safety net for savers and investors called the Financial Services Compensation Scheme (FSCS) that was set up to provide redress for customers of firms who cannot pay compensation. If your policy was taken out after 29th August 1988, then you may be covered by this scheme.
What does all this mean to you?
Having read our 3 myth busters, you may feel you have cause for complaint. The fact is, if the advice you received was poor - or failed to take into account your circumstances - you may have been wrongly sold an endowment policy and you deserve financial injustice.
What can you do to seek compensation?
There are two main options open to you. You can claim on your own, or use an expert like EMCAS. Understandably, you may want to know a little more about us - and whether we're right for you. If so, we'd love to tell you a bit more about ourselves - and why over 700,000 people have trusted EMCAS with their endowment claims.
We'll call you back at a time convenient to you - and get your claim started.
If, however, you're ready for us to pursue your claim, we're ready to help! Request a call back from one of our friendly, down-to-earth advisers by clicking here or contact one of our experts via email.