The Endowment Diary

The Endowment Diary

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

Thursday, March 23, 2006

Legal & General U Turn

Legal & General U Turn

Legal & General have announced that they will tell over 600,000 endowment policyholders that they have only six more months to claim compensation, if they believe they were mis-sold the products.

Up until now, L&G now had been one of the few large endowment policy providers to rule out "time-barring" customers.

L&G has started to send out letters to their policy holders this week, covering the new time bar rule and informing the policy holders about their projected returns/shortfalls on polices.

Only Prudential and Nationwide Building Society are keeping an open commitment to consider complaints.

The clock is ticking.

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