Selling My Endowment

Moncs_2

Hi,

Looking to sell my Royal & Sun Alliance Endowment (now Royal Life).
Figures below,

2004 Bonus Declaration

Guaranteed Minimum Death Benefit - £60,000
Maturity Date - 01/04/2023
Amount on which basic bonus is calculated - £27,222
Bonus Earned to 31/12/2003 - £1795.76
New Bonus Added This Year - £72.54
Total Bonus Earned to 31/12/2004 - £1868.30

Phoned up and got a Surrender value of £6990.


Got an offer of £9087 from a company called Intergrity, Does that offer sound good to anyone?

Also, can you recommend other companys who would look into buying this endowment?

dunstonh

You actually got an offer on a R&SA policy?????

Miracle. I was under the impression that no-one was touching R&SA now. Get in there quick while you still can. Pitty the poor sod thats buying that one (if it doesnt end up in a TEP fund).

Kellm9

Hi Moncs,

How can I get in touch with the company ? I can't find Intergrity anywhere on the net. I also have endowment policy that I would like to sell / surrender.

Rgds
Kellm9

Moncs_2

Kellm9 wrote:

Hi Moncs,

How can I get in touch with the company ? I can't find Intergrity anywhere on the net. I also have endowment policy that I would like to sell / surrender.

Rgds
Kellm9

Hi,

I found their website at http://www.ukintegrity.co.uk/
however I did not contact them directly I filled in an online form from one of the brokers who deal with endowment selling.

Please PM me if you want some more info.

:beer:

dunstonh

Can you do us all a favour and confirm when it is actually completed. Some have given indications in the past that they will pay x amount but then go on to refuse to accept it. If you get the funds for it and confirm it here, a lot of R&SA endowment holders could benefit from that.

EdInvestor

I think Integrity is the firm which is packaging up old TEPs from the now closed institutional funds and flogging them to retail clients of the somewhat, erm, less astute variety.

So maybe they will pay up.

tightrs

i sold my endowment about 2 years ago to a firm called beale dobie and got about 35%more than my surrender value.it was all handled promptly and efficently i would recommend them depending on what they offer , then this year i claimed i was mis sold the policy in the first place and got an extra £1800 .

Kellm9

EdInvestor wrote:

I think Integrity is the firm which is packaging up old TEPs from the now closed institutional funds and flogging them to retail clients of the somewhat, erm, less astute variety.

Hi Edinvestor,

Not sure what you mean "less astute variety". Would this method of sale as opposed to surrender be safe and risk free. Would there be any chance of losing the lot through a dodgy sale, or is this all pretty well protected and controlled ?

dunstonh wrote:

a lot of R&SA endowment holders could benefit from that.

Hi dunstonh,

Yes exactly, I would love to get rid of my R&SA policies. A chance to sell rather than surrender would be great.

Regards
Kellm9

Moncs_2

dunstonh wrote:

Can you do us all a favour and confirm when it is actually completed. Some have given indications in the past that they will pay x amount but then go on to refuse to accept it. If you get the funds for it and confirm it here, a lot of R&SA endowment holders could benefit from that.

Of course, I called them to confirm the details as they had put Royal Life rather than Royal & Sun Alliance on the form however they confirmed that is indeed correct as thats what RSA come under now.

They also said it takes usually around 15 weeks to complete the sale (seems a long time to me)

EdInvestor

Not sure what you mean "less astute variety". Would this method of sale as opposed to surrender be safe and risk free. Would there be any chance of losing the lot through a dodgy sale, or is this all pretty well protected and controlled ?

Hi Kellm9,

This wouldn't affect you.The "less astute" punters I was referring to are the people that Integrity would then sell your duff endowment to.

gwarren_2

just thought you would like to know i sold a R&SA policy to integrity in may this year, the transaction went smooth and i got £700 more then my surrender value, recieved a cheque through the post. then paid it off the mortgage, did recieve a letter from R&SA asking us why we had stopped the D/Debit, and I just told them we had sold it,not my problem we had the money