Endowment FAQs

Below you will find the answers to the most frequently asked endowment claims questions. To find out more just click the heading.

Existing policyholders and those that have already sold, replaced or surrendered their policies due to poor performance could be due compensation. To be eligible for payment you must have suffered a financial loss as a result of the advice you received when the policies were sold.

Click here to start your claim now.

Should your claim for mis-selling be successful an offer of compensation will put you back into the position you would have been in had you not received the inappropriate advice.

The value awarded will largely be determined by the original target amount of the policy, the company that the policy is with, the current value of the policy, the length or term of the policy, the policy commencement date, the interest payable on the loan and the cost of the policy's monthly premiums.

The calculations are complex but fair and adhere to the Financial Services Authority Regulations. Should your claim be successful EMCAS will check the offer made to you and ensure that all areas of the complaint that require compensation are met.

You can be assured that EMCAS will be acting in your best interests at all times and will always endeavour to maximise the value of the award being made. As we receive a % of the award value on a "No Win No Fee" basis we will have naturally checked all calculations and ensured that the rules governing compensation payments issued by the Financial Services Authority have been correctly applied. EMCAS regularly dispute offers made by the companies liable and as a result have the offers increased.

The basis of the fee charged is that EMCAS will only be entitled to be paid if EMCAS win the claim and you receive compensation. If the claim is carried to its conclusion and is lost you will not be charged for work carried out on your behalf. Should you decide not to proceed with a claim prior to instructing EMCAS to act on your behalf you will not be charged for any initial advice or the assessment of your potential claim.

The only occasion other than the above when a fee is payable is if during the course of your claim you decide to cancel our contract. A fee will then be payable to reflect the work carried out on your behalf and any expenses paid by EMCAS.

EMCAS charge 35% + VAT (41.1% inc. VAT) of any compensation gained on your behalf. The charge is only applied to the compensation value and is not related to the actual policy value.

You may wish to take time to seek further advice or shop around before instructing EMCAS to act on your behalf.

If you do so please act quickly as Insurers, Banks, Building Societies and Independent Financial Services that sold endowment mortgages are able to "time bar" complaints. Therefore it is imperative that you take immediate action on with matter.

Before EMCAS start your claim we will provide you with written correspondence detailing our service and our Terms of Engagement. After returning the required documentation you will then have a 14 day 'cooling off' period. Once this 'cooling off' period has expired EMCAS will;

• Compose the initial complaint letter to the Company that provided the endowment or pension policy and instruct them to direct all correspondence and any questions or matters relating to the claim to your claims manager at the EMCAS claims office. Included will be an authority for EMCAS to deal with your complaint.
• Request the company's file and their "fact find" relating to the sale of the policy.
• Provide copies of any correspondence for your records.
• Review the file to establish any breaches in the relevant Financial Services Authority rules governing the sale of the policy. Any charges made by the company for providing the file will be paid by EMCAS.
• Complete any necessary paperwork such as a "Mortgage Endowment Questionnaire" (MEQ) or a pension mortgage questionnaire (PMQ). The questionnaires are composed by each individual company and we believe serve the needs of the company and not the client. If completion of a questionnaire is required an EMCAS claims administrator will contact you at a time convenient to you between 9.00 a.m. and 9.00 p.m. and complete the questionnaire with you by telephone. EMCAS will ensure that you only answer questions that are relevant to your claim.
• Act as an intermediary between you and the company including replying to and managing all correspondence relating to your complaint.
• Ensure that any compensation offered has been correctly calculated and includes all aspects of the complaint that may have resulted in you suffering a financial loss.
• Consider any rejection alongside the evidence provided by the company to determine whether their rejection is justified. If in the opinion of EMCAS there is insufficient evidence to reject the claim EMCAS will in the first instance appeal against the decision and provide the company with the reasons why EMCAS believe the case should be upheld.
• Take the complaint to the Financial Ombudsman Service is necessary. If EMCAS believe the company is justified in rejecting the claim EMCAS will promptly inform you of the outcome. If you are unhappy with our decision then you have the option of taking the claim to the Financial Ombudsman service independently.
• Pursue your complaint through the Financial Services Compensation Scheme if appropriate.

Should you choose to instruct EMCAS to act on your behalf we will at all times endeavour to:

• Act fairly and reasonably in all dealings with you.
• Ensure that any service offered is one that meets your needs.
• Ensure that all information given to you is clear, transparent, fair and not misleading.
• Advise you to only pursue a claim if it is in your best interest to do so.

If you are not completely happy with our service, EMCAS would like to hear about it - that way, we can do something to put it right. Please contact the Customer Services Manager on 01803 697 541 or Email Us.

Yes you can. As with anything in life you may elect to "do it yourself" or use an expert in their field.

EMCAS is a professional complaint handling company. We are one of the longest established firms operating exclusively within the financial sector. We aim to take away the hassle of making a complaint and undertake to deal with all aspects of your claim from start to completion making the whole process as painless as possible for you.

Our track record speaks for itself. To date we have successfully won £150 million in compensation payments for over 65,000 customers. 

EMCAS provide comprehensive knowledge of Financial Services products, regulation and complaints procedures plus all administration required to make a successful claim.