XXXXXXXX

Home
Selling Endowment Policy
Replacement Life Cover
Our Services
Press Comments
Email Us
Contact Us
Financial Services Authority
Endowment Surrender Plus
is a trading Style of Becque Wayman Investments Ltd which is an Appointed Representative of Financial Limited, which is Authorised and Regulated by the
Financial Services Authority No: 498298

Endowment Surrender Plus
PO Box 276
Macclesfield
SK11 0FP
Tel: 01625 433222
Fax: 01625 433111

 

Why do people surrender or sell with-profit policies?

The reasons are varied but are usually attributed to a change in circumstances such as redundancy, divorce or a change in mortgage arrangements.

It is important for anybody thinking about encashing a policy to consider all options. These are:

  • Surrendering the policy direct to the issuing life office.

  • Borrowing against the policy, either from the issuing life office or from a bank using the policy as security.

  • Making the policy 'paid up' which means no further premiums are payable on the policy, but reduced benefits will be received on death or maturity.

  • Auctioning the policy.

  • Selling the policy on the second-hand market.

Policyholders should also remember that if they surrender or sell their policy they will lose the benefit of the life assurance protection, and if their policy is with a mutual life office which subsequently demutualises or with a life office which makes a distribution of their orphan estate they would lose the potential of any possible windfall payments.

However if you have considered these alternatives and have decided to encash your with profit policy then esp should be able to help you get the best price.