Endowment misselling - an alternative view
Mar 26th, 2007 by complex001
Am I the only one that thinks that lots of people are taking advantage of the endowment misselling scandal and are making fraudulent claims?
I spoke to a friend the other day and he has just received an extra £2,550 from the insurance company for allegedly being missold his endowment. He was quite happy to tell me that he was told quite clearly by the adviser that the value wasn’t guaranteed and whilst he could get more he could also get less. However because the company did not have the original sales documentation they simply paid out the money to keep him happy.
I have been told that a lot of insurance companies are doing this for fear of missing deadlines set by the Financial Services Authority (FSA) and being fined. If that is the case are we the general public ultimately going to pay for this with extra premiums on our insurance policies like we seem to do for all the dodging car insurance claims.