Thinking of cashing in the endowments early ? 
Surrender or sell endowments ?
Endowment policy surrender or cashing in endowments is common in the UK, butselling endowment policies or "trading endowments" is becoming more widespread, and canmean more money for the endowment policy holder.
Here is what the old Financial Services Authority (now renamed the Financial Conduct Authority ) had to say about selling endowment policies
"If for whatever reason you're thinking ofsurrendering or cashing your policy in, make sure your endowmentcompany tells you about ALL the options - that includes the option oftrading the policy in as well as surrendering it, if it has beenrunning for at least five years." and here is the FSAconsultation paper that led to it)
The new Money Advice Service (who are an independent service set up by government) have this to say "If youve been paying in for at least seven years, youll probably earn more if you sell a with-profits policy rather than cashing it in."
Research shows that many endowment policyholders cash in(or surrender) their policies early. In fact a report by theAssociation of Policy Market Makers APMM reveals that only about 30% of allendowment policies actually reach maturity.
30% of endowments are cancelled or cashed in early in the first few years of theiroriginal lifespan, and the rest are either sold to an endowment buyer(second hand endowment policy trader) or surrendered at some pointbefore maturing and paying out.
Surrender your policy back to the endowment issuing company and you maymiss out on the extra cash that you can get by selling the endowmentpolicies instead, to an endowment policy trader ( they buy second handendowments as investments to balance the risk profile of a portfolio ofinvestments)
"To sell or not to sell, that is the question"
If endowment policy surrender or cashing in is your intention, then you shouldexplore the financial benefits that may be possible, by selling yourendowment policy on the traded endowment policy market. Selling endowments simply entails filling in the selling endowments form with information that is found on your endowment policy statement or schedule, and awaiting an offer. If the offer is not greater than the surrender value offered by the endowment life assurance company, or if the traders respond by saying they cant beat the surrender value, then you have lost nothing, but in some cases the increase in cash from selling endowments can be quite significant
So if selling your endowment policy now seems more attractive thansimply surrendering or cashing in the endowment, use the flashing button above to goto the endowment sales form.
There are a number of actions you can take to compensatefor an endowment policy shortfall
- You can alter your mortgage so that the projectedendowment shortfall amount is converted to repayment (capital andinterest)
- You can tell the lender that you wish to change allof your mortgage debt, from "interest only" (supported by theendowment) to a full repayment mortgage.
- Overpay the mortgage each month, or aim to repaypart of the mortgage early.
- Extend the term of the endowment policy (lender andendowment insurance companies consent required) to give the endowmentpolicy more time to grow, and have the benefit of additionalcontributions
- Take out a "top up" savings plan to run alongsidethe endowment policy
- Top up the existing endowment policy.
Selling endowment policies
Selling endowment policies to one of only six endowment policytraders that are members of the Association of Policy Market Makers, instead of cashing in endowments early, can be achieved by using the "sell endowment" link at the topof the page, or by clickinghere
Surrendering endowment policies can result in less cash for you than if you sell the endowment policies instead
Cashing in an endowment means the same as surrendering
The information on thisweb site is intended as "information only" and should not be taken as"advice".
If you are unsure aboutwhat to do, if anything, about your endowment policy, you shouldconsider taking advice from an independent financial adviser who isregulated by the Financial Services Authority
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The policy list below represents the most popularendowments the uk public are selling at the moment and more informationon them.
Endowment Selling
Australian Mutual Endowment Surrendering Endowment Policies Pearl Endowment Axa Equity Law Endowment Britannic Life Endowment Brittanic Assurance Endowment Clerical Medical Endowment Colonial Mutual Endowment Commercial Union Endowment Eagle Star Endowment Friends Provident Endowment General Accident Endowment Guardian Financial Endowment Imperial Life Endowment Legal General Endowment Norwich Union Endowment Prudential Endowment Royal Life Endowment Scottish Provident Endowment Standard Life Endowment Liverpool Victoria Endowment London Manchester Endowment Royal London Endowment Scottish Widows Endowment Sun Alliance Endowment Sun Life Canada Endowment Windsor Life Endowment London Life Endowment MGM Endowment National Farmers Union Mutual Endowment National Mutual Life Endowment National Provident Institution Endowment Provident Life Endowment Refuge Assurance Endowment Tunbridge Wells Endowment Weslyan Assurance Endowment Life Association Scotland Endowment Swiss Life Endowment Standard Life Endowment Norwich Union Endowment Traded Endowments Scottish Amicable Endowment Endowment Market Place Wesleyan endowment buy a property in alghero diesel bug national and provincial
Surrender or sell endowments ? Endowment policy surrender or cashing in endowments is Research shows that many endowment policyholders cash in (or surrender)
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If you are thinking of selling your endowment speak to 1stPolicy. We buy policies profits endowments. If your policy details sell my endowment?
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with profits endowment policy early, our endowment form so you can sell your policy for more than its surrender cash in your endowment policy;
