Selling Endowments

ShermanPotter

Originally posted in wrong forum.

I have 2 endowments (£30,000 and £10,000) still costing me £70 per month ....originally taken out to cover a £30,000 endowment mortgage

The mortgage has since been converted to repayment.

I intend to cash in the endowments - but can't beat the incredibly poor offer from Phoenix (£17,000 combined) - they are both "with profits" Sun Alliance policies (4 years to go on 25 year policies) - does anyone know of one of these second hand endowment companies who may improve my offer ?
Also - will I be liable to tax on this payment ? Considering the lack of return (over 21 years - I have LOST approximately £640) - I certainly hope not !!
What alternatives do I have ?
Freezing the payments - what effect will this have on any Terminal Bonus ?

EdInvestor

Usually TEP traders aren't interested in these policies but you can try here: https://www.apmm.org
There should be no tax on surrender. There's really little alternative to surrender One has to doubt there will be any terminal bonus attached by the time they mature.