Hi - and I am sure this is a question that interests many of our visitors. The best place for full impartial information on potentially making a compensation claim for a mis-sold endowment is on the Financial Services Athority website: www.fsa.gov.uk/consumer/pdfs/endowment_complaints.pdf

Basically, you have three years after you first realise there may be a problem with your policy to make a claim. That is usually taken to be when you received a 'red' notification from the Insurer advising of a potential shortfall. Your claim should be directed to the company that gave the advice in the first place. Although you no longer have your property, this should not affect your ability to claim if you feel you were mis-sold the policy originally.

Finally, there are plenty of firms that specialise in making claims on behalf of complainants - however, this is at a price as they will take a share of any compensation agreed.

Hope this is of some help.

Louise

Hi,
in 1989 we took out a first time buyer morgage and an endowment with Standard Life. The Blackhorse Financial Advisor assured us the endowment would be sufficient to make £40000 on maturity. Now it more likely to make 20000. Bit of a shortfall. We have recently sold the property but have kept the policy. The surrender value as of 6 months ago was around £13000. We would like to keep the policy going as an investment. (We are also keeping our Standard Life shares!, at least for now). What we don't now is how any compensation claim would affect future value. And how do we go about claiming in the first place? Also, how much longer do we have to take any action?
Any advice would be greately appreciated.