Surrendering an Endowment Policy?
we have be in the process of surrendering our policy near a company since February 2006, our policy has gone up surrounded by value (more than we thought it would) and because in that has be a delay contained by this company selling on this policy we have contracted to pull out. They told us it would solely take 13 weeks once it be in a portfolio, that be in March 2006. I own tried to contact them but there is a short time ago an answering service and they don't ring back, we enjoy also sent numerous amount of e-mails cancelling, as they lately told us the buyer had pulled out. But to-day they are proverb we can't cancel and a cheque is contained by the post? Do we have a right to rescind and shall we send the cheque fund, if it comes? HELP!!! Worried-
Answers:
Once you and the buyer have agreed the verbs of the policy, there's no going back.
If you have a feeling that the company arranging the sale of your policy acted irrationally towards you, write to them at their registered address (don't phone or email). Address your letter to the Compliance Officer. Set out what have happened and why you presume you've been treated partially. There's a procedure they need to stir through and they should then write to you next to a response. If you're not satisfied next to that, you can go to the Financial Ombudsman. If the company don't respond, you can stir straight to the Financial Ombudsman anyway. See www.financial-ombudsman.org.uk
This seems a long time to grasp this sorted.think you call for professional help.If policy is beside a Mutual Society the registrar for Friendly Societies telephone 0207 216 7436 might point you contained by right direction.Hours9-5 mon-fri.If no luck there suggest solicitor .The Citizens Advise Bureaux may also be of assistance and they contribute free service if you are a little strapped for change.You need someone who understand terms and conditions of policy if you are not gettng contentment.,keep plugging away and right luck