endowment policy

Depending on the type of mortgage and circumstances of the borrower, the options for dealing with mortgage arrears include: | Reducing monthly interest |payments; Increase the length of the |mortgage; Get the lender to suspend |repayment of the amount you borrowed (the capital) and make interest-only payments; Find a cheaper mortgage |deal with another lender; Reduce the payments on an |endowment policy, or Stop making payments into |an endowment policy.

Q Am I too late to claim for a mis-sold endowment policy? Jane Reed, by email Dean says: You have six years from the date the policy was sold or, if it gives you more time, three years from the date you became aware (or should have become aware) of the grounds for complaining.

ARE you stuck with an endowment policy from Life Insurance Corporation ( LIC) and don't know what to do with it?

Summary: Do avail of additional benefits of an endowment policy if you have one in your portfolio.

Q My wife and I have an endowment policy, which we took out when we bought our home.

A FIRSTLY, you will need to find out the surrender value of your endowment policy, the proportion of your endowment policy's maturity value that would consist of the terminal bonus and whether you would incur any charges upon surrender.

I read your recent column about repaying the debt on an interest-only mortgage using an endowment policy when the policy matures.

As a result of the latest bonuses someone who paid pounds 50 a month into an endowment policy for 20 years will receive a final payout of pounds 22,724, in line with payouts of pounds 22,224 if the same policy had matured last year.

At Baronworth Investment Services, an independent financial advisor which runs a trawling service for endowment policy holders cashing in, director Colin Jackson says: "It isn't only the Standard Life effect.

So he sought expert advice from a financial advisor and was encouraged to start paying into a mortgage endowment policy.

ENDOWMENT policy holders of the Prudential and Scottish Amicable now have just six months to complain about being mis-sold their policies.

I SPLIT with my husband five years ago but our insurer won't pay out on an endowment policy unless we both sign the paperwork.