Selling your policy
What is a firm offer?
A final proposal is what we offer. This means that we are buying the insurance directly to you with our money. There are buyers, not brokers. This means that, unlike some of our competitors, we do not rely on matching buyers to our customers, we are the buyer. So we can get the entire purchase process completed within 3-6 weeks. How long is the offer open?
Your offer is open for 7 days from the date it becomes valuable (the date will appear in the upper left of the contract). Nothing outside of this time may be necessary to re-evaluate or canceled according to our criteria at the time. I have a final proposal above, it can improve yours?
If you receive a final proposal more than let us know the name of the company that has offered this to you and the price. One of our representatives about the department forward this evaluation to see if we can compete against them. How do I get paid?
We will pay you by check to a lawyer once you have provided all the documents and we have verified the details of policy with the office of life. When should I stop paying my monthly premiums?
If you have agreed to sell your policy to us on a contract in the box the last line will say "for the seller and inclusive (and then a date) anything after that date may be canceled, but that date must be paid by you . Want to buy unit-linked endowment policies or cluster flexi-plan?
No, we do not only buy 100% with-profits endowments. If your policy reference unit, being a managed fund, with the cluster plan or a flexible then unfortunately these are not the kind of policies we buy. I lost my original policy documents, I can still sell my endowment?
Ask your office life for a replacement policy document, but make sure it is a replacement and not a copy with the "copy" the words everywhere. With some life offices - Standard Life, Scottish Friendly, Scottish Widows and Prudential - we do not always require a political document. What happens if the policy is insured against a mortgage?
A policy can be sold until suitable arrangements are made with the lender to repay or re-arranging the loan. Our lawyers will assist with the regime to release the policy document by the lender. Time Scale How long does it take for the value of a policy?
Usually one business day. You will receive a contract in the post to sign and send back to us or you will receive an e-mail to say it can not 'make an offer. How long does it take to get paid?
Usually 3-6 weeks, faster than the documents are provided to our lawyers the faster you can complete your purchase. Taxes Do you have any hidden costs or expenses?
No, no, the supply contract is the amount you receive from premiums paid until the date indicated on the contract. Any loans against the policy can be inferred from the offer or re-paid by you. What is the tax position, if a policy is sold?
Selling the policy will lead to tax consequences as a surrender to the insurance company. Security What happens to my personal information?
We collect your e-mail only for use by the first policy and our lawyers and only gather information we need to buy your policy. This information will be used only in connection with the sale of your policy and for no other purpose.
We hate spam as much as you do. We do not share your information with anyone. You will not receive spam or junk mail as a result of giving your details. Because the supply of two referees required?
If you sell to us, ask for two references. This is because, at some point after the sale of the policy, the new owner could be required to determine whether a question has arisen. How can I tell you who you say you are?
We are governed by the (Financial Services Authority), FSA registration number 179442, details can be found on their website. We are also a member of the APMM (Association of Policy Market Makers), the premier industry trade body. How do I know if I get paid?
The transfer of ownership of the policy is conducted by a lawyer who holds the money due to confidence in the same way as they would if we were buying the house. The money is then paid as soon as the lawyers to receive notification that the ownership of the policy framework has been transferred to us. Lawyers are regulated by the Law Society.
source http://www.1stpolicy.co.uk/faq.php
What is a firm offer?
A final proposal is what we offer. This means that we are buying the insurance directly to you with our money. There are buyers, not brokers. This means that, unlike some of our competitors, we do not rely on matching buyers to our customers, we are the buyer. So we can get the entire purchase process completed within 3-6 weeks. How long is the offer open?
Your offer is open for 7 days from the date it becomes valuable (the date will appear in the upper left of the contract). Nothing outside of this time may be necessary to re-evaluate or canceled according to our criteria at the time. I have a final proposal above, it can improve yours?
If you receive a final proposal more than let us know the name of the company that has offered this to you and the price. One of our representatives about the department forward this evaluation to see if we can compete against them. How do I get paid?
We will pay you by check to a lawyer once you have provided all the documents and we have verified the details of policy with the office of life. When should I stop paying my monthly premiums?
If you have agreed to sell your policy to us on a contract in the box the last line will say "for the seller and inclusive (and then a date) anything after that date may be canceled, but that date must be paid by you . Want to buy unit-linked endowment policies or cluster flexi-plan?
No, we do not only buy 100% with-profits endowments. If your policy reference unit, being a managed fund, with the cluster plan or a flexible then unfortunately these are not the kind of policies we buy. I lost my original policy documents, I can still sell my endowment?
Ask your office life for a replacement policy document, but make sure it is a replacement and not a copy with the "copy" the words everywhere. With some life offices - Standard Life, Scottish Friendly, Scottish Widows and Prudential - we do not always require a political document. What happens if the policy is insured against a mortgage?
A policy can be sold until suitable arrangements are made with the lender to repay or re-arranging the loan. Our lawyers will assist with the regime to release the policy document by the lender. Time Scale How long does it take for the value of a policy?
Usually one business day. You will receive a contract in the post to sign and send back to us or you will receive an e-mail to say it can not 'make an offer. How long does it take to get paid?
Usually 3-6 weeks, faster than the documents are provided to our lawyers the faster you can complete your purchase. Taxes Do you have any hidden costs or expenses?
No, no, the supply contract is the amount you receive from premiums paid until the date indicated on the contract. Any loans against the policy can be inferred from the offer or re-paid by you. What is the tax position, if a policy is sold?
Selling the policy will lead to tax consequences as a surrender to the insurance company. Security What happens to my personal information?
We collect your e-mail only for use by the first policy and our lawyers and only gather information we need to buy your policy. This information will be used only in connection with the sale of your policy and for no other purpose.
We hate spam as much as you do. We do not share your information with anyone. You will not receive spam or junk mail as a result of giving your details. Because the supply of two referees required?
If you sell to us, ask for two references. This is because, at some point after the sale of the policy, the new owner could be required to determine whether a question has arisen. How can I tell you who you say you are?
We are governed by the (Financial Services Authority), FSA registration number 179442, details can be found on their website. We are also a member of the APMM (Association of Policy Market Makers), the premier industry trade body. How do I know if I get paid?
The transfer of ownership of the policy is conducted by a lawyer who holds the money due to confidence in the same way as they would if we were buying the house. The money is then paid as soon as the lawyers to receive notification that the ownership of the policy framework has been transferred to us. Lawyers are regulated by the Law Society.
source http://www.1stpolicy.co.uk/faq.php
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