Endowment Claims – File Them Now

2007-03-08 10:33:40

( Business )



If you think you are a victim of endowment mis selling, don’t waste any time. File your endowment claims now. You can either secure the services of an independent company to help you file your endowment claims or you can go directly to the authority which deals with complaints against financial companies that issued missold endowment policys.

If you choose to engage the services of independent firms, you have to take note that they will file your endowment claims provided they will get a share of any endowment compensation that you will get. They may promise that they can successfully get your endowment compensation, but this does not happen too often. Even if these firms will be able to help you get your endowment claims, you will only be left with a bigger shortfall.

It does not make any difference if you will file directly with the authority because you will fill out the same endowment claims form anyway. Besides, you don’t have to spend money for filing your complaint with the authority.

Recently, mortgage lenders and insurers have already paid out more than a million pounds of endowment claims to the homeowners who bought missold endowment policys. It is estimated that there are still a lot more who have not filed their endowment claims. If you have not lodged your complaint yet, you should not waste any time because most mortgage lenders and insurers pay your mortgage claims only within three years after you receive a warning that your endowment policy will shortfall.

In 1980s and early 1990s, endowment mortgages were sold as savings vehicles intended to pay back a home loan. Repayment mortgage, where your monthly payments include both interest and a partial payment of the principal loan, could have been the better option then. Because you were asked to pay the interest on the mortgage loan and an investment fund that was estimated to pay off the whole mortgage at maturity, you chose to buy endowment policy instead. However the investment fund, which is about to mature, is not sufficient now to pay off your mortgage because the inflation and interest rates had gone down than those projected.

As soon as you receive from your insurer the first warning of a possible shortfall on your endowment policy, you have to file your endowment claims right away. The three-year deadline will start counting after receipt of the warning.


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