endowment policy

[juli]

my partner and i separated 7 yrs ago we had a house together and when i left i took no part of the house, was just glad to be gone, so i signed the house over to him, but there is still an endowment policy with my both our names on which has been going for 9 yrs although i havent paid towards this for the last 7yrs am i entitled to any of it? we have a 14 yr old daughter does that make a difference?

[cheyenne]

when this endowment policy matures it should be used to pay of the mortgage,is it still going to be used for this purpose.a lot of these policys will now not cover the mortgage,are you willing to pay half of the shortfall to your ex partner?unless your partner changed his mortgage but carried on paying of his endowment,are you entitled to any of it?see a soliciter or go and see the CAB.

[NoGood Boyo]

If you are divorced the policy should have been included in the settlement. If not, the chances are that you and your ex are both the lives assured and the policy owners. If that is so, you will get the death benefit if he dies before the policy matures, and vice-versa. If you are a joint owner, it doesn't matter who has been paying the premiums, you are still entitled to half of the cash in or maturity values. If that is so, he won't be able to cash the policy without your consent, so you still may have power over the policy. Hope this helps.

[johnjbloomfi]

Check wit the endowment company to ensure it is not still assigned to any mortgage provider. If it is write to them stating that as the you have no liability to the loan you wish to rebuke the assignment, they probably wont have a problem with it if they don't get paid they would just go for the house. You should tell the endowment company the same.