Money Management, February 1st, 2006
Last April, I thought I had heard everything about false endowment misselling claims when I wrote in this leader column of a married couple with two Canada Life with profits endowment policies which had matured and paid off their mortgage and also left them with a small cash sum over.
But they complained to Canada Life on the basis that, when they took out the policies, the agent told them that the policies would provide much more at maturity than they received. Canada Life ended up paying compensation to the couple not because of the lower excess cash sum, but because it concluded that it ...
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