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Why Sell Your Endowment Policy?

Oct 9, 2007
Selling endowment policies can be a very stressful time regardless of what your reasons for selling them are. If you decide to stop your endowment policy and surrender it, it is very important to check your policy and make sure that it is worthwhile doing this. If you are not going to get a decent amount of money for it then there is no point selling it now and you may as well either carry on searching until you get a better deal or wait a couple months as you may get a better deal then.

One of the biggest mistakes people make is surrendering their endowment policies back to the company they bought it from. If you do your research you will find that it is not unusual to get a better deal from an outside company who buys and sells endowment policies.

Although this option is available to you, make sure that you are aware of the requirements that are involved. It is normal for them to expect your policy to be with - profits or a with - profits whole life policy and have been running for a minimum number of years. Some places also require the surrender value to be at least 1,500 pounds. If your policy does not meet the criteria, then they will not be able to handle your sale which means the only option available to you is to take what the policy issuer can offer.

There are many different reasons why people decide to sell endowment policies. One of these may because the policy isn't performing very well. If this is the case then selling up is a wise move because there is no point in putting money into something that isn't getting you results and in a couple months the value may deteriorate even further.

Early redemption can result in making less than you would have if you carried on for its full term but sometimes people have no choice. If you are desperate for the money and don't have any other choice then make sure than you shop around for the best deal. Although you may be in a rush which will make taking your first offer very tempting, you will probably be a lot better off shopping around as the amount you may get could increase significantly.

If endowment policies confuse you and you aren't sure about how to deal with these things, an independent financial advisor could also be helpful to you. They can compare offers and help you get the most from your policy and provide impartial advice.
About the Author
Policy Plus are endowment experts helping you get more money for your policies endowment policies. offer a trusted and reliable service you know you can count on.
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