Surrendering endowment policy

Animal · 20-10-2005, 6:55 PM

Current circumstances dictate that I need to surrender my endowment policy (25-year policy with 10 years to go). I’ve got a surrender value but have been told that I may get more if I sell it to a 3rd party. Has anyone done this (or know off anyone who has) and if so can they recommend a decent company. Thanks.

GaryB · 20-10-2005, 7:06 PM

The only one I've heard anything good about is AAP:

http://www.aap.co.uk/

There are also companies that auction endowment policies.

The APMM website is worth a read:

http://www.apmm.org/

Miyazaki · 20-10-2005, 8:42 PM

I'll give you a tenner animal. Deal?

mrmcdean · 20-10-2005, 10:52 PM

Not sure if im allowed to say this or not just in case it breaks any forum rules....

I work for a company that helps people to sell their endowments, we go to companies like AAP but quite a few others as well, I think there are about 5 - 6 companies in the APMM (association of policy market makers) but there are more companies out there who may be interested.

Which life company is the policy with ?

If its been running since 1990 then there may be a chance you can sell it second hand, do you know if its a unit linked policy as no one is buying this kind of policy second hand at the moment.

General Skanky · 21-10-2005, 4:11 PM

We sold our old policy when we moved house 2 years ago.

From my rough memory, we sold it to a 3rd party for £17,000 I think instead of £12,000 or so we were originally offered.

The numbers may be a bit skewy, but it was something like that. No idea of the company though.

We just googled for some and asked for quotes.

Glad we did.

sandsclan · 22-10-2005, 5:33 AM

You can try CCM email sales@ccmpolicies.co.uk - get a quote from a few companies

Animal · 24-10-2005, 12:12 PM

Thanks for the help and advice. It definitely seems like it is worth getting a few quotes rather than surrendering it straight away. Oh and Games Guru – thanks for the generous offer. I must admit I’m tempted, very tempted. Can you give me a few days to think about it

.

mrmcdean · 24-10-2005, 1:04 PM

www.endowmentsurrenderplus.co.uk

A trawler brokers that go to 9 companies in the UK & Ireland who purchase policies, there aren't many more - the majority of companies you see on the web are either looking around for prices or companies set up by the market makers to generate leads, you could call 3 - 4 companies and get through the same person each time.

GaryB · 27-10-2005, 6:36 PM

This article posted on This Is Money today might be worth a read.