Life with Profits Endowment - Sell or Surrender

jonesaa_2

Hi,

I am looking at either surrendering or selling my current endowment that has 8 years left to run.

It is a Life with profits endowment that I have had since 1993 and has a current surrender value of approx £16,000 with payments of £62/month.

Would I be better trying to sell the endowment on and if so which companies would you recommend are the best for dealing with this.

Thanks,

Aaron

Loughton_Monkey

Some so-called 'with profits' policies are actually unit linked. If this is the case with yours, then 'good news' is that surrender values are usually 'reasonable', and 'bad news' you can't sell them for any more than surrender value.

If it is truly participating in a 'With Profits' fund of a reputable insurer, then simply 'google' to find any number of companies who might quote a value to buy it from you.

jonesaa_2

Thanks for your reply.

The endowment is with Standard Life and I have had a quote off them so far.

The policy is 75% with Profits and 25% Managed.

Have you used any of the Endowment purchase companies before?

Loughton_Monkey

I've always let my own endowments mature. Cannot recommend a specific purchase company, but would assume you simply get a quote from all of them. It's a simple transaction without too much 'service' quality attached, so it's highest bidder gets (I would assume).