What is a Late Joiner?
Can I make a claim?
it is more than 6 years since you were sold your policy or more than 3
years since you first realised that you had a basis to make a claim -
arguably, the last date feasible being three years from the draconian
cuts to policy values on 16 July 2001, you are “timed-out” for any
civil court action based on negligence.
you bought your policy LESS
than 6 years ago, and your losses are MORE
than £50,000 it might be worth considering legal action on a
“no win, no fee” basis. Email
email@example.com for more
your policy was “unit-linked” you have not suffered a cut to your
policy except for stock market falls and have no basis for a complaint
connected with the devaluation of “With Profits” policies. If you
still have a “unit-linked” policy with Equitable and can move
without penalty, you might want to consider moving it to a place of
So, if I am ambushed at
every turn, what should I do?
(Equitable Members Action Group)
(Equitable Life Members Support Group)
you are a WP annuitant, read the ELTA website and consider a claim on
the basis that the product was unsuitable for your needs.
However, you may now be time-barred unless you were sold the
policy less than 6 years ago.
Should I have received
an offer from Equitable anyway?
Maybe. The offers are somewhat derisory, and they are designed
to “pick off” any potential claimants who then sign away all
rights to make a claim in the future.
It is believed that 16,000 of these offers were sent out and
that about 5,000 were accepted. If you make a complaint to Equitable
you might well receive such an offer just to tick you off the list. Be careful – you could be giving up future legal
rights for a pittance.
I heard that some
people received proper compensation