The Endowment Rip Off
Farininvestment.co.uk has published research that shows 90% of people who own a useless and underperforming endowment product believe that they were victims of mis-selling.
The research also showed that 86% of endowment policyholders were expecting their policy to suffer a shortfall.
Of those who felt their had bought their policy after receiving poor advice, 49% said they had been given a guarantee that the policy would cover the mortgage costs, while 27% say the risks involved were not made clear. A further 6% felt fees and charges had not been properly explained.
Something that our financial services industry can be proud of?