From: "Bob_Cratchit" 
Newsgroups: uk.finance uk.legal
Subject: Re: Endowments The Forgotton Scandal (how big Insurance Companies Unloaded their responsibilties)
Date: 14 Jul 2006 05:27:59 -0700
   posting-account=QtKJPQwAAADSMW7Ko8APoy4GMeu-Ao0l

John wrote:
> "Bob_Cratchit"  wrote in message
> news:1152862565.538736.27970@h48g2000cwc.googlegroups.com...
>
> > The Life Insurance companies that sold these products seemed to have
> > shoved all of the blame onto IFA's.
>
> I don't know about you but when I applied for a mortgage the IFA clearly
> didn't understand the product and appeared to be basing his advice solely on
> his commission. I believe it is right and proper that such people are held
> to account.

Your IFA must have been a silly billy.......contrary to popular myth,
endowments paid half of the commision that a straight life insurance
policy paid.......and during my time in the Life Insurance business, I
never met a widow who said her husband had too much Life Cover!

> I know that when I looked at endowments in the late 80's I made the
> assessment that they were a poor choice compared to repayment.

Well thats just not true unless you could see into the future...when
you looked at endowments in the late 80's, they not only looked
wonderful......the combined might of Insurance Companies, Banks, Govt
regulators and Financial were screaming that they were...........They
should be all be held to account along with IFA's

Very hard to urge caution in imprudent times.

Bob