Regular savings plans were sold by companies such as Allied Dunbar, Cornhill, General Portfolio, MI Group, and went under a variety of names – MIP, Capital Builder, Flexible Savings Plan, etc. They were, however, bad investments with high front end charges, and most were a mis-sale. You may still be able to claim compensation.
A number of insurance companies in the past 20 years have sold insurance policies as savings plans when a PEP or an ISA would have been more appropriate. Now these plans are being cashed in, many show little or no return for many years of savings because of the high front end charge structure.
What Clients say…
“When investigating and challenging my whole of life policies, X-Claims were both “very knowledgeable and effective”.
Was the advice I received about my Savings Plan wrong?
You should claim if: Your plan shows very little profit or a loss.