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Surrendering endowment policy

Discussion in 'General Chat' started by Animal, Oct 20, 2005.

  1. Animal

    Animal
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    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.
     
  2. GaryB

    GaryB
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  3. Miyazaki

    Miyazaki
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    I'll give you a tenner animal. Deal?
     
  4. mrmcdean

    mrmcdean
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    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.
     
  5. General Skanky

    General Skanky
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    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.
     
  6. sandsclan

    sandsclan
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  7. Animal

    Animal
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    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 ;).
     
  8. mrmcdean

    mrmcdean
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    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.
     
  9. GaryB

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

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