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Selling My Endowment

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Comments

  • eggman
    eggman Posts: 45 Forumite
    How long was the process?

    I have been offered £230 more for my Royal Life policy! So not sure if it's worth the hassle and wait.
    No reliance should be placed on the above.
  • wymondham
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    We're looking to sell our Endowment, and found http://www.apmm.com - does anyone have any views on these people (good or bad) as nervous at supplying our details until I'm sure they are OK - if anyone also has a better place to go please let me know!!!
    :confused:
  • mungus
    mungus Posts: 2 Newbie
    I've got an endowment with the Prudential which I made 'paid up' some time ago i.e. I don't contribute to it any more, it just sits there doing its thing. I want to sell it/surrender it and get my hands on the cash. Does anyone know if third party companies buy paid up policies?? I'm wary of speaking to them without knowing more about the ins and outs but I don't want to surrender it to the Pru just because that's easiest.

    Thanks for any help.
  • dunstonh
    dunstonh Posts: 121,111 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Does anyone know if third party companies buy paid up policies??

    No. The final terminal bonus and guaranteed sum assured would have been reduced when you made it paid up and that takes away any of the desirability.

    Shame really as Pru endowments are generally good and 25 years should be on for a surplus. This tends to make them desirable for both those keeping them and those wanting to buy them.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • thomasperfecto
    thomasperfecto Posts: 28 Forumite
    Be careful
    Integrity do not make firm cash offers. They will hold your policy for up to 3 months untill they find a buyer for it. If they do not find a buyer then they will pull out.

    Also if you are selling through a broker the broker will be taking a fee. You should try contacting the Market Makers direct.
    You can get a list of Market Makers at https://www.apmm.co.uk
  • Hitman_2
    Hitman_2 Posts: 15 Forumite
    I am looking to cash in 1 of my endowment policies and want to know the best way to do this. The policy was commenced in 1995 and matures in 2012.
    Is it best to cash it in with the provider or sell it to a 3rd party?
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