Selling My Endowment

splewington

did you have to pay capital gains tax on the proceeded?

Kellm9

Hi Gwarren,
Did you sell direct or did you use an agent ? if so who ?

Moncs,
You have PM.

Regards
Kellm9

EdInvestor

Some interesting comments on why Integrity pays more

here

Kellm9

A couple of comments from the bestpriceendowment.com website which appears to be closely linked to Integrity.

"As part of the sale process, you will be asked to complete a referee's form before you receive the sale proceeds. This form enables the buyer of your policy to make enquiries as to the continuing health of each life assured, and see if there is any life insurance payable in future."

Does this mean the buyer takes over the life insurance ? So if I sell and then I die they get the cash ? If the life insurance transfers, I would be constantly watching my back for fast approaching strangers wearing suits and shades _pale_

" Payment
Once clear title has been received we will chase the buyer for the cheque, depending on what portfolio it is placed in, depends on the timescale to get the funds. "

Umm, "we will chase the buyer" So you transfer your policy and then wait, seems to me they could just not pay and you will be left with a legal battle probably years long and loads of costs.

Edinvestor,

Re your link to the Motley Fool site. I did read it and to be honest do not fully understand it. However the thread did leave me with an underlaying thought to steer clear of Integrity. Do you think I have picked up the comments correctly ?

I certainly feel surrendering may not be the best cash wise but is the safest bet.

Regards
Kellm9

gwarren_2

Kellm9 wrote:

Hi Gwarren,
Did you sell direct or did you use an agent ? if so who ?

Moncs,
You have PM.

Regards
Kellm9

Hi.I know this sounds silly but i have thrown all the paper work out now that everything is settled.
I think it was through them direct,just filled a few forms in on the net and waited for the reply,I got two offers through and there`s was the best,it took a few weeks to complete but nothing like three months what people are saying,there were no fees unless we pulled out when things started going,our policy had five &half years left to run.I hope this helps

gwarren_2

splewington wrote:

did you have to pay capital gains tax on the proceeded?

not paid anything on it

gwarren_2

(quote
"As part of the sale process, you will be asked to complete a referee's form before you receive the sale proceeds. This form enables the buyer of your policy to make enquiries as to the continuing health of each life assured, and see if there is any life insurance payable in future."

Does this mean the buyer takes over the life insurance ? So if I sell and then I die they get the cash ? If the life insurance transfers, I would be constantly watching my back for fast approaching strangers wearing suits and shades )



:xmassign:
well thats the gamble that you take, live or dead, thats all the person who bought it wants to know,you have to give two contact numbers for them to keep in contact with,

ya no just in case

if you worry you die, if you dont worry you die, so why worry?

EdInvestor

Hi kellm9

THe latest info on Integrity suggests you should steer well clear.

Update

Kellm9

EdInvestor wrote:

Hi kellm9

THe latest info on Integrity suggests you should steer well clear.

Update

Edinvestor,

Thanks for that, seems I did pick up your earlier post correctly.

Cheers
Kellm9

carlysilver

I have been reading some of the messages because i have recently sold my endowment policy and it seems like i got a pretty good deal. My surrender value was just over £16,000 and the best offer i received was £21,500 from AAP. I was so impressed with how quick the whole process was.