Endowment Policy Surrender in the UK
There are several options for those of us with unwanted endowment policies. These include 'cash in' endowment policy or 'surrendering' endowment policy with the life company, or making them 'paid up', whereby future benefits are reduced but no further premiums are payable. Another way of disposing of an unwanted endowment policy is to sell it on the traded endowment policy ("TEP") market. The TEP market offers the opportunity to realise significantly more than surrender value for suitable policies.
Cashing in endowment policy is not a recommended course of action, given that endowment policies are considered long term investments, and should be held for the complete term. It is only one of the ways of getting your hands on the cash that has been invested, but can be an option in an emergency.
If you have decided that you wish to cash-in your with-profits endowment policy, there is an alternative to surrendering it back to the insurance company. The alternative to surrendering endowment policy is selling endowment policy on the traded endowments market. Assuming your policy is suitable; you could cash in your policy and get much more than your quoted surrender value by selling.
You need to be aware that should you decide to sell or surrender your endowment policy, you will lose the life assurance cover associated with the policy. Selling your policy through the TEP Exchange is quick and easy and you are always in control.
When you sell endowment policy, you will lose the life insurance cover accompanying your endowment.
For a free, no obligation quote, click here to submit your policy details to our recommended buyer. We have teamed up with the UK's biggest buyer to ensure that you get the very best quote available on the market.
You need to be aware that should you decide to sell or surrender your endowment policy, you will lose the life assurance cover associated with the policy.
It is important to note that we offer an execution-only service. We do not provide any advice nor do we seek to influence your decision to sell or keep your endowment policy. This service is solely for those who have already decided that they no longer wish to continue with their endowment policy. If you are still unsure what to do it would be beneficial to seek independent financial advice.
If you have decided that you wish to cash-in your with-profits endowment policy, there is an alternative to surrendering it back to the insurance company. The alternative to surrendering endowment policy is selling endowment policy on the traded endowments market. Assuming your policy is suitable; you could cash in your policy and get much more than your quoted surrender value by selling.
You need to be aware that should you decide to sell or surrender your endowment policy, you will lose the life assurance cover associated with the policy. Selling your policy through the TEP Exchange is quick and easy and you are always in control.
When you sell endowment policy, you will lose the life insurance cover accompanying your endowment.
For a free, no obligation quote, click here to submit your policy details to our recommended buyer. We have teamed up with the UK's biggest buyer to ensure that you get the very best quote available on the market.
You need to be aware that should you decide to sell or surrender your endowment policy, you will lose the life assurance cover associated with the policy.
It is important to note that we offer an execution-only service. We do not provide any advice nor do we seek to influence your decision to sell or keep your endowment policy. This service is solely for those who have already decided that they no longer wish to continue with their endowment policy. If you are still unsure what to do it would be beneficial to seek independent financial advice.
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