UK ENDOWMENT CLAIMS
ACTUARIAL ADVICE
We are a specialist firm dealing with endowment claims for underperforming insurance policies which have been miss sold by a life company, broker or solicitor. We operate on a no win no fee basis and our claims are completely risk free. We guarantee that if you do not receive compensation then you will not be charged a penny. If you have received a 'Red' or 'Amber' letter from your life assurance company indicating that your policy is at risk of a shortfall and you would like free advice without obligation then just use the phone number or complete the contact forms and an expert insurance actuary who is registered by the Financial Services Authority will give free advice without any further obligation.
The amount of compensation that can be claimed if a policy of insurance has been miss sold depends on complex calculations that are the realm of qualified insurance actuaries. Solicitors and laymen have no sensible chance of accurately determining the amount that should be claimed without undergoing the years of specialist training of an insurance actuary. There are computer programs on the market that will attempt the calculation however they are not as efficient or as accurate as a qualified professional whose job does not end once the mathematics have been calculated.
Merely because a policy isn't performing as well as anticipated does not mean that there is a case for claiming compensation which can only be instigated if there are grounds to show that the initial policy was miss sold. If it is anticipated that the value of the mortgage fund at the end of the term is less than the amount of the loan then there is a "shortfall". It is calculated that 4 out of 5 policies which were sold before the year 2000 are experiencing shortfall which amounts to over 6 million policies with an average shortfall of about £6,000.
A policy of life insurance used to pay of a mortgage loan will be determined to have been miss sold if the product was not suitable at the time of sale or if the risks that the fund would not pay off the loan were not fully explained or if you were mislead or given guarantees as to the amount of money that would be available at the end of the term.
The amount of compensation payable in endowment claims is calculated by comparing the amount of the fund actually available at the time the application is determined with the amount that would have been paid off on a straight repayment mortgage and the difference is the amount of current shortfall or compensation that can be claimed. This is the amount that would allow the mortgage to be switched to a straight repayment mortgage with no loss to the borrower.
We initially use qualified members of the insurance profession who are registered under the Financial Services Authority as being fit and proper persons to carry out initial investigations and submit the formal letter of complaint and thereafter an insurance actuary calculates the compensation due and negotiates on your behalf directly with the company concerned. In the event that the matter must be appealed we take solicitors advice on the drafting of documents for submission to of the appeal.
