Traded Endowment Policies

apwood

By far best offer for my endowment (with Standard Life) is also with Integrity (I applied via their bestpriceendowment.com site.

How your sale go?

Or can anyone else advise if this company is worth going ahead with?

I'm a bit dubious because, despite the fact they say the quote is a firm offer assuming I gave them correct info, they also advised the process is rather complicated and takes approx 13 weeks:

1. I send my original policy to them (take a copy myself). Is this safe?

2. They check the details with Standard Life.

3. They then include it in a portfolio of investments they are selling.

4. The policy then changes hands and I get my money.

Any advice please?

EdInvestor

Integrity are said to be under watch by the FSA. There have been reports of extra costs to the policy seller if you back out.

It would be very useful to get more reports about this company from Moneysavers.

maisie_2

I can only say that Integrity have paid up what they said they would in their initial offer. Everything seems above board - I was also unhappy to release the policy but was assured this was standard as the eventual buyer must be certain it is the real thing and that there have not been any changes or legal charges. The smal print mentions penalties but these only apply if the seller breaks his side of the contract (£50 - £250 'administration fee' depending on the stage of withdrawal).