Selling & Cashing in Endowment Policy - Advice - Review - Mortgage
Cashing in Endowment Policy
If you are thinking of cashing in your endowment policy you basically have two possibilities. You can surrender your policy back to the insurance company, or you can in some cases depending on your policy details sell your endowment policy to a third party.
When you request a surrender value you are in most cases getting a poor value deals as the value does not necessarily reflect the true value of the endowment. By selling your policy you may get more through a specialised buyer.
There are investors who see endowments as a desirable asset due to their non-income producing nature and partially guaranteed return.
Not all endowments are suitable for selling on the second hand market - generally only traditional with profit policies that are at least five years old- but our brokers are experts in selling endowment policies, and will be able to help you find out if an offer can be made on your endowment.
If, however, you feel that the risks associated with your endowment mortgage were not fully explained to you at the time you took it out, you may have been a one of millions of people that were mis-sold endowment policies, in which case you can make an endowment complaint.
The FSA estimates that as many as 4 million people may have been mis-sold endowment policies, mostly by being misled into thinking their endowment was guaranteed to pay off their mortgage; if this sounds familiar, you can do something about it.
If you took an endowment policy out in the 1980s or 1990s and it is now unlikely to pay out its original estimate, you are certainly not alone. Many people are in the same boat, and have realised that the endowment they took out to pay off a mortgage liability is not going to pay out enough.
As a result of volatile stock market conditions over the past decade, many endowment policies taken out in the 1980s and 1990s are unlikely to pay out the amounts originally estimated. If you took out the endowment to pay off a mortgage liability the endowment may not pay out enough to do so.
You should have been receiving letters over the last few years from your endowment provider telling you:
If you have an endowment and need advice about the options available to you, or you are intending to surrender the policy, you should get independent advice.
There are plenty of investors who see endowment mortgages as a desirable asset - this is because they have a 'non-income producing nature' and partially guaranteed return.
If you think the risks of your endowment mortgage were not properly explained to you, then you may have grounds for an endowment complaint.
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Cashing in Endowment Policy
If you are thinking of cashing in your endowment policy you basically have two possibilities. You can surrender your policy back to the insurance company, or you can in some cases depending on your policy details sell your endowment policy to a third party.
When you request a surrender value you are in most cases getting a poor value deals as the value does not necessarily reflect the true value of the endowment. By selling your policy you may get more through a specialised buyer.
Endowment
Get more for your endowment policy..
Looking to get rid of your endowment policy? Instead of settling for the endowment surrender value offered to you by your insurance company, you should look at selling it and you could get more.There are investors who see endowments as a desirable asset due to their non-income producing nature and partially guaranteed return.
Not all endowments are suitable for selling on the second hand market - generally only traditional with profit policies that are at least five years old- but our brokers are experts in selling endowment policies, and will be able to help you find out if an offer can be made on your endowment.
If, however, you feel that the risks associated with your endowment mortgage were not fully explained to you at the time you took it out, you may have been a one of millions of people that were mis-sold endowment policies, in which case you can make an endowment complaint.
The FSA estimates that as many as 4 million people may have been mis-sold endowment policies, mostly by being misled into thinking their endowment was guaranteed to pay off their mortgage; if this sounds familiar, you can do something about it.
Endowment Advice
Confused about your endowment options?
If you have an endowment policy that is not on track to pay your mortgage at maturity, you should think about getting endowment advice about the options available to you.If you took an endowment policy out in the 1980s or 1990s and it is now unlikely to pay out its original estimate, you are certainly not alone. Many people are in the same boat, and have realised that the endowment they took out to pay off a mortgage liability is not going to pay out enough.
Endowment Review
Don’t know what to do with your endowment?
If you have an endowment policy and it is not on track to pay your mortgage or has a projected shortfall, you can get an independent endowment review to help you understand the options available to you.As a result of volatile stock market conditions over the past decade, many endowment policies taken out in the 1980s and 1990s are unlikely to pay out the amounts originally estimated. If you took out the endowment to pay off a mortgage liability the endowment may not pay out enough to do so.
You should have been receiving letters over the last few years from your endowment provider telling you:
- If your endowment policy is still on track to pay off your mortgage at the end of the term;
- the amount of projected shortfall, if any
- the options open to you
- what further action you need to take
If you have an endowment and need advice about the options available to you, or you are intending to surrender the policy, you should get independent advice.
Selling Endowment
Get more by selling your endowment!
Don't accept the surrender value quote from your insurance company until you have obtained a quote to see if you can get more by selling it.Selling endowments has become more and more popular as people begin to realise that you can get more for selling endowment policyes rather than just accept the surrender value offered by your insurance company.
Endowment Mortgage
Get more for your endowment mortgage
If you are thinking of surrendering your endowment mortgage, think again! You could get more than the surrender value by selling it on.There are plenty of investors who see endowment mortgages as a desirable asset - this is because they have a 'non-income producing nature' and partially guaranteed return.
If you think the risks of your endowment mortgage were not properly explained to you, then you may have grounds for an endowment complaint.
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