If I make a complaint re a mis-sold endowment policy in the mid 1980s is the
insurance company likely to get in contact with their sales adviser who
retired some 20 years ago?
It was sold on the basis that it would definitely pay of the mortgage with
an extra lump sum on top ... It was my first dealing in finances and I knew
little/nothing about how it worked.
Reason I ask is that the adviser is an elderly relative of mine ... not in
good health and he would take it badly if he thought I was complaining about
him...
I really believe that at the time he fully believed in the product he was
selling me and I wouldn't want to proceed if it was to lead to any
grievance.

thanks Andy

"Andrew" <quiet> wrote in message
news:7i31
> If I make a complaint re a mis-sold endowment policy in the mid 1980s is
> the insurance company likely to get in contact with their sales adviser
> who retired some 20 years ago?
> It was sold on the basis that it would definitely pay of the mortgage with
> an extra lump sum on top ... It was my first dealing in finances and I
> knew little/nothing about how it worked.
> Reason I ask is that the adviser is an elderly relative of mine ... not in
> good health and he would take it badly if he thought I was complaining
> about him...
> I really believe that at the time he fully believed in the product he was
> selling me and I wouldn't want to proceed if it was to lead to any
> grievance.
>
> thanks Andy
>

No they will probably not contact the agent - they didn't in my case.

But after 2 years of communications and using the FSA it was agreed I was
mis-sold but I was not in a worse position than on a repayment mortgage so I
got nothing. The policy is not paying the full amount of the mortgage.

"Andrew" <quiet> wrote in message
news:7i31
> If I make a complaint re a mis-sold endowment policy in the mid 1980s is
> the insurance company likely to get in contact with their sales adviser
> who retired some 20 years ago?
> It was sold on the basis that it would definitely pay of the mortgage with
> an extra lump sum on top ... It was my first dealing in finances and I
> knew little/nothing about how it worked.
> Reason I ask is that the adviser is an elderly relative of mine ... not in
> good health and he would take it badly if he thought I was complaining
> about him...
> I really believe that at the time he fully believed in the product he was
> selling me and I wouldn't want to proceed if it was to lead to any
> grievance.

I`d question whether you`d have a good case for mis-selling if the advice
given to you was good. Or are you saying that your relative, who was
(presumably) at the time a qualified advisor, was in turn badly advised? If
you have a complaint, surely it is against the person who advised you -
whether they in turn have a claim against anyone else for bad advice
shouldn`t be any concern of yours.

"Andrew" <quiet> wrote in message
news:7i31
> If I make a complaint re a mis-sold endowment policy in the mid 1980s is
> the insurance company likely to get in contact with their sales adviser
> who retired some 20 years ago?
> It was sold on the basis that it would definitely pay of the mortgage with
> an extra lump sum on top ... It was my first dealing in finances and I
> knew little/nothing about how it worked.
> Reason I ask is that the adviser is an elderly relative of mine ... not in
> good health and he would take it badly if he thought I was complaining
> about him...
> I really believe that at the time he fully believed in the product he was
> selling me and I wouldn't want to proceed if it was to lead to any
> grievance.

There is a good chance that the company will contact him. Sorry.

"Andrew" <quiet> wrote in message
news:7i31
> If I make a complaint re a mis-sold endowment policy in the mid 1980s is
> the insurance company likely to get in contact with their sales adviser
> who retired some 20 years ago?
> It was sold on the basis that it would definitely pay of the mortgage with
> an extra lump sum on top ... It was my first dealing in finances and I
> knew little/nothing about how it worked.
> Reason I ask is that the adviser is an elderly relative of mine ... not in
> good health and he would take it badly if he thought I was complaining
> about him...
> I really believe that at the time he fully believed in the product he was
> selling me and I wouldn't want to proceed if it was to lead to any
> grievance.
>
> thanks Andy
>
fortunately for me ( a paper horder) I kept all the literature that was
handed to me back in 1988, non of which stated it could go down. I got £5K
back about 2 years ago.

Yes it would pay to get the ball rolling and I doubt that half of those who
were pushing it are still in the business.

On 1 July, 15:10, "Andrew" <qu> wrote:
> If I make a complaint re a mis-sold endowment policy in the mid 1980s is the
> insurance company likely to get in contact with their sales adviser who
> retired some 20 years ago?
> It was sold on the basis that it would definitely pay of the mortgage with
> an extra lump sum on top ... It was my first dealing in finances and I knew
> little/nothing about how it worked.
> Reason I ask is that the adviser is an elderly relative of mine ... not in
> good health and he would take it badly if he thought I was complaining about
> him...
> I really believe that at the time he fully believed in the product he was
> selling me and I wouldn't want to proceed if it was to lead to any
> grievance.
>
> thanks Andy

It depends. Was your elderly relative actually an employee of the
insurer, or was he self-employed/working for another firm?

If he was an employee of the insurer, it probably wouldn't contact him
(though you can't guarantee that).

If he was working for another firm, then the insurer will pass your
complaint to that other firm. What that other firm does so far as
contacting your relative is concerned is up to the other firm.

If he was self-employed/a director of the firm that advised you, then
(assuming the insurer still has his address) it will probably pass
your complaint straight to your relative.

On Wed, 1 Jul 2009 15:10:12 +0100, "Andrew" <quiet>
wrote:

>If I make a complaint re a mis-sold endowment policy in the mid 1980s is the
>insurance company likely to get in contact with their sales adviser who
>retired some 20 years ago?
>It was sold on the basis that it would definitely pay of the mortgage with
>an extra lump sum on top ... It was my first dealing in finances and I knew
>little/nothing about how it worked.
>Reason I ask is that the adviser is an elderly relative of mine ... not in
>good health and he would take it badly if he thought I was complaining about
>him...
>I really believe that at the time he fully believed in the product he was
>selling me and I wouldn't want to proceed if it was to lead to any
>grievance.

If it was sold in the mid 1980 is it unlikely it is covered by the FSA
scheme and it's probably too late use the courts.

BTDTGTTS.

"Mark" <i> wrote in message
news:h6ln
> On Wed, 1 Jul 2009 15:10:12 +0100, "Andrew" <quiet>
> wrote:
>> If it was sold in the mid 1980 is it unlikely it is covered by the FSA
> scheme and it's probably too late use the courts.

Wrong on both counts

"Andrew" <quiet> wrote in message
news:7i31
> If I make a complaint re a mis-sold endowment policy in the mid 1980s is
> the insurance company likely to get in contact with their sales adviser
> who retired some 20 years ago?
> It was sold on the basis that it would definitely pay of the mortgage with
> an extra lump sum on top ... It was my first dealing in finances and I
> knew little/nothing about how it worked.
> Reason I ask is that the adviser is an elderly relative of mine ... not in
> good health and he would take it badly if he thought I was complaining
> about him...
> I really believe that at the time he fully believed in the product he was
> selling me and I wouldn't want to proceed if it was to lead to any
> grievance.
>
> thanks Andy
>
a good read

http://www.moneysavingexpert.com/rec...ents-miss-sold

>
> If he was an employee of the insurer, it probably wouldn't contact him
> (though you can't guarantee that).
>
yes he was an employee (in1984) ...
Given his health ... I would not want the risk of them contacting him - so I
better leave it for the moment ...
(thinking coldly ... is there a time limit to complain ... if he were to
pass away in the next year or so could I defer action until then?
Can I complain even after the endowment matures ... (due later this year?)

thanks
A

On 2 July, 19:48, "Andrew" <qu> wrote:
> > If he was an employee of the insurer, it probably wouldn't contact him
> > (though you can't guarantee that).
>
> yes he was an employee (in1984) ...
> Given his health ... I would not want the risk of them contacting him - so I
> better leave it for the moment ...
> (thinking coldly ... is there a time limit to complain ... if he were to
> pass away in the next year or so could I defer action until then?
> Can I complain even after the endowment matures ... (due later this year?)
>
> thanks
> A

Yes, there is a time limit to complain. It's hard to say what that
limit is from what you've posted - it mainly depends on when (if) the
insurer wrote to you to tell you that there was a high risk your
policy would not repay your mortgage.

On Thu, 2 Jul 2009 17:19:29 +0100, "Fergus O'Rourke"
<usen> wrote:

>"Mark" <i> wrote in message
>news:h6ln
>
>Wrong on both counts

Would you care to say why?

"Mark" <i> wrote in message
news:t470
> On Thu, 2 Jul 2009 17:19:29 +0100, "Fergus O'Rourke"
> <usen> wrote:
>> Would you care to say why?

On reflection, I would not say it again !

Use of the words "likely" and "probably" were sufficient to make it RIGHT on
both counts.

I apologise to you, and to all readers

On Fri, 3 Jul 2009 18:47:04 +0100, "Fergus O'Rourke"
<usen> wrote:

>"Mark" <i> wrote in message
>news:t470
>
>On reflection, I would not say it again !
>
>Use of the words "likely" and "probably" were sufficient to make it RIGHT on
>both counts.
>
>I apologise to you, and to all readers

Under what circumstances would it not be too late to use the courts to
get compensation?

Mark wrote:
> On Fri, 3 Jul 2009 18:47:04 +0100, "Fergus O'Rourke"
> <usen> wrote:
[snip]
>>> Would you care to say why?
>>
>> On reflection, I would not say it again !
>>
>> Use of the words "likely" and "probably" were sufficient to make it
>> RIGHT on both counts.
>>
>> I apologise to you, and to all readers
>
> Under what circumstances would it not be too late to use the courts to
> get compensation?

Fraud is the one that springs immediately to mind.