The Endowment Diary

The Endowment Diary

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The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Wednesday, June 02, 2004

New Rules, Same Problem

New rules came into force yesterday with regard to the information that life assurers must supply endowment policy holders with, concerning their underperforming endowment mortgages.

The rules require that policy providers must warn consumers of approaching deadlines for complaints about failing endowment policies. The policy provider must remind the holder when they have six months left to complain.

This of course does not address the actual problem, namely attaining compensation for the policy shortfall.

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