Standard Life has issued alm-ost 98 per cent of its mortgage endowment customers with green “all-clear” letters amid increasing numbers of life offices admitting shortfalls.
The latest Money Marketing Focus survey reveals what percentage of policyholders have received green and red endowment shortfall letters. Life offices issuing mainly green letters include NPI (99.14 per cent), NFU Mutual (94.7 per cent), CIS (92 per cent) and Britannic (81 per cent).
Those sending high percentages of red letters include Scottish Legal Life (53.8 per cent), Lloyds TSB Life (50 per cent), Scottish Friendly (38 per cent), MGM (26 per cent), NatWest Life (25 per cent), Scottish Provident (18.1 per cent) and Royal & Sun Alliance (16 per cent).
Firms which refused to disclose details of what percentage of letters they have sent out include Abbey Life, Barclays Life, Eagle Star, Halifax Life, Legal & General and Scottish Widows.
Under FSA rules, the letters must be sent to policyholders by June 30.