| The
decision whether to sell or surrender an endowment
policy is arguably purely down to the amount of
money received for the policy once the ownership has
transferred.
What's
the practical difference?
Surrendering endowment policies returns
the policy to the issuing life company (or whoever
has now taken them over or merged with them) and in
exchange you get the "surrender value". This is what
the life company is willing to give you as a return
on the investment so far. The life assurance cover
will cease and that's the end of it.
Selling endowment policies opens up the
potential to get more money for the policy from the
new owner of the policy. The new owner could be an
individual or an institution that wants the
endowment policy as part of their overall portfolio
of investments. The life assurance cover continues,
but the new owner would be the beneficiary should
the person named on the policy die before the policy
matures. The new owners of the policy continue
paying the regular premiums and collects the
maturity value at the end.
Click here to get
your policy valued
History has proven that a policy holder can get more
cash by selling than by surrendering endowment
policies.
Surrendering endowment policies should be carefully
considered before going ahead, as the loss of life
cover will have an effect on family
protection, and if in any doubt about what to do, an
independent financial advisor should be consulted.
Top
up or replacement life cover quotes can be obtained
here.
Life assurance quotes.
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