10 year Savings Plan

A client of ours took out 3 Allied Dunbar 10 year savings plans for his 3 children, which matured a few years ago. After reading our ad he approached us to see if anything could be done. We obtained the sales documentation from Allied Dunbar and found the sales to be fundamentally flawed. Allied Dunbar offered to refund the premiums with interest less what had been paid. The offer was around £15,000.

However, the interest rate they were using was not correct (in our opinion) so we took the matter to the FOS and they agreed with us. Allied Dunbar’s revised offer was £20,000.

Having reviewed the client's other plans we managed to secure a further £75,000 for him, which he was not even expecting.

Pension Mortgage

Another client of ours was sold a pension mortgage in 1986 through Zurich (Allied Dunbar) and approached us after seeing our advert. Having submitted his case to the insurers they have put forward an offer of £22,000. We disputed the offer and it was subsequently increased to approximately £28,000.

Endowment savings plan with critical illness

Mr K was told to take out a 22 year endowment savings with critical illness plan with Abbey Life (known as a Protected Savings Plan) to achieve three aims, life cover, critical illness cover and also savings. Having reviewed the advice given to the client we made representations on their behalf and the company agreed that the plan was not appropriate for the clients.

The company initially offered £2,300 and following our further submissions they increased the offer to £5,500. Still not happy with their proposal we took the case to the FOS where the adjudicator initially agreed with what had been proposed. We made our points known and the adjudicator agreed that the interest should be paid gross not net, thereby increasing the clients offer to just over £7,000.

Whole of Life plans

We have recovered a lot of compensation from companies who sold these plans to people who either did not have the means to fund the premiums in the first place or going forward because of premium reviews. Compensation can be substantial because it involves a refund of the premiums plus interest less the surrender value, which can be small. In some cases it is plainly inappropriate to have a unit linked Whole of life policy to serve a particular need such as inheritance tax planning.

Mr S Patel from London said:
"I would like to convey my sincere appreciation and thanks to Life Policy Reclaim , a great service which is professional and very friendly but most importantly - honest and genuine"

Mr D Parmar from Scanview Electronics Ltd said:
"...they proved their excellency expertise to obtain impossible result. I would definitely recommend that they can create miracles."

Mr & Mrs S from Wiltshire said:
"Life Policy Reclaim took up our case on a no win, no fee basis and subsequently managed the whole matter, securing us substantial compensation including a partial rebate on monies paid. We would recommend this service to anyone."

Mr & Mrs Navekar from Preston said:
"We are very grateful for your dedicated service."