If you’re one of the millions of endowment policy holders who have lost out financially as a result of poor advice, you could be eligible for compensation and need to make a claim.

Many companies, known as endowment claims handlers, will handle the complaint and claim process on your behalf, but will charge a hefty fee for doing so. There’s no reason why you can’t do it yourself and get 100% of the compensation you’re due.

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The Association of British Insurers (ABI) are urging people who wish to pursue endowment compensation to make a claim directly to their endowment company, rather than using one of the many claims handling services available.

The ABI says that such services are no more likely to produce a successful claim than if a customer handled the procedure themselves - indeed, they cite figures that show 49% of independent claimants were successful, compared to 46% who used a claim handler.

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