Time Barring on Mis-sold Endowments – ACT NOW!
The first and most important point to understand is that you don’t have all the time in the world to make a complaint about a missold endowment policy.
Following consultations with life insurance companies that offered endowments, the FSA has put in place a complicated procedure that “time-bars” complaints regarding missold endowments if they are made after a certain date.
Unless you make your complaint about a missold endowment policy within this time frame, you will be prevented from doing so forever. Indeed, according to reports, as of the late summer of 2004 some 700,000 people have so far been time-barred from making a complaint about a mis-sold endowment policy. This number is growing all the time.
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