Endowment claim - Post retirement

I've done a fair amount of research on this one, but am struggling to work
out how compensation is calculated for a policy that goes beyond retirement
AND was sold on the understanding that it'd have enough value BY retirement
age. Anyone have any knowledge or experience on this?

BACKGROUND
- My parents took out a policy in 1988 that would take would mature when my
father was 70 (5 years over)
- They are both now retired and in fact the policy has ALREADY matured.
- The company has already offered to pay the policy shortfall in full.

QUESTION
Given that they were told to expect the policy to pay off the loan amount at
65, can they not claim that the value of the redress should be the total
payments made (mortgage interest and endowment fees) for the full 5 years
after retirement as they had not budgeted for these additional 5 years of
costs?

If not, do they have a claim at all, over and above the current offer of
making up the shortfall?

Chris


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