Ignorance Pays

[OrangeHopper]

I have come to the conclusion that it often pays to be ignorant.

This is based on the observation that people can claim compensation on the basis they didn't really understand the product they bought. For example, endowment mortgages that didn't realise the original projections.

Similarly, others do things knowing they are unsafe then, having injured themselves, sue someone because they weren't warned they were doing something stupid.

I buy an endowment and I know what I'm buying. I do or do not buy insurance because I know what I'm buying. I'm willing to or not willing to takes the risks involved.

God, my brain hurts with all this thinking.

[NoddY]

I have come to the conclusion that it often pays to be ignorant.

This is based on the observation that people can claim compensation on the basis they didn't really understand the product they bought. For example, endowment mortgages that didn't realise the original projections.

Similarly, others do things knowing they are unsafe then, having injured themselves, sue someone because they weren't warned they were doing something stupid.

I buy an endowment and I know what I'm buying. I do or do not buy insurance because I know what I'm buying. I'm willing to or not willing to takes the risks involved.

God, my brain hurts with all this thinking.

There is a thin line between a fool and a genius.

[Lucifer Box]

I don't care because I got a letter from the Ombudsman this morning telling me that they were upholding my endowment miselling complaint. Compensation offer to follow.

Ker-ching!

Lucifer in "I'm alright, Jack" mode.

[Obiwan Kenobi]

Who's the more foolish: The fool, or the fool who follows him?

[Dundeegeorge]

Shocking

Proud to be stupid.
How nice for you.
Now then, how can I get my money back from Ladbrokes? After all, they never told me when I made that bet that the horse may not finish first.
Sheesh, some people. I would expect it from a moron like chicken or sasguru but frankly I'm shocked at you LB.

[threaded]

Actually, I remember many years ago a sales type pointing out one of the benefits of an endowment mortgage as being that they'll be like pensions one day and you'll get a nice fat handout if you say you were miss-sold...

I thought it shocking at the time, but I was younger then.

I do think a good few bought them expecting this day to come. I guess Lucifer Box is one of them...

[Lucifer Box]

Proud to be stupid.
How nice for you.
Now then, how can I get my money back from Ladbrokes? After all, they never told me when I made that bet that the horse may not finish first.
Sheesh, some people. I would expect it from a moron like chicken or sasguru but frankly I'm shocked at you LB.

That's a poor analogy, DG. A closer one would be "when I made that bet they guaranteed that the horse would win."

In any case, the basis of my complaint was not that the endowment has underperformed (which is not an allowable basis for complaint anyway), but that it was an inappropriate product recommendation given my circumstances at the time (living at home with parents [we're talking a long time ago] and no dependents to support).

[threaded]

But you have to say that LB, don't you...

[Lucifer Box]

But you have to say that LB, don't you...

You might say that, but I couldn't possibly comment.