Introduction of time bar on mortgage endowment policies

All relevant policyholders will be informed about the time bar when they receive details of the projected maturity values of their policies in line with Association of British Insurers (ABI) requirements. Policyholders will be given 12 months notice before the time bar comes into force, which is double the six months notice required by the Financial Services Authority


Lloyds TSB believes that introducing a time bar is fairer for policyholders as it provides a clear timescale in which complaints can be made.

Letters will start to be issued in February 2005 and will set out details of the time bar, clearly indicating the date by which customers should lodge their complaint. All relevant policyholders will receive confirmation by the end of June 2005.