My "friendly" life assurance company has written to me again, this time they have sent me a warning letter about my other endowment policy.
This policy, taken out in 1987, was meant to cover a mortgage of £35K.
The projected shortfall is, roll on the drums......£10600.
In other words 30% of my mortgage.
Put that together with the other shortfall of £14500 projected by my life assurance company (see earlier post), and I am going to have to find £25K when my two endowments expire in 2012.
Do I think that I have been ripped off?
To add insult to injury, the life assurance company then goes on to suggest that I could top up my underperforming policy.
I think that it is high time that these companies were brought "to book" over this £40BN scandal that is bordering on the criminal.