Selling Endownment - via who?

jatwap

Hi, I've got a endownment via Norwich Union which I have continued as a investment (i.e. not needed to pay the mortgage) According to the last financial adviser I seen (2004) it had been doing quite well and I'm reluctant to cash it in but I need the money so I've decided to bite the bullet!

What I wanted to know is, is it more profitable to sell it on rather than cashing it in via the Norwich union direct? Norwich union give me a surrender value of circa £6k - how much more could I expect by selling it on and can anyone suggest where I sell it via? Are there any recommended brokers or companies who will give me a price if i submit the details online?

candygirl

Don't use AAP their customer services are crap!!i'm in the middel of selling my endowment with them and they are so lackadaisical it's unreal!!:mad: :mad:

dunstonh

Before you do, if its with profits, then you should be aware that there is a planned "windfall" in 2008 which could see around £300-£1500 per policy being issued. Plus, NU also have a promise that if the endomwent falls short, they will pay upto £5000 of that shortfall or the amount of the shortfall if less than £5000. This can make the NU endowments more valuable than many others.

Make sure you are dumping it for the right reasons and have taken the above into account.

EdInvestor

Windfall only applies to ex Commercial Union and General Accident policies.

Try https://www.apmm.org

for quotes if policy is WP.

dunstonh

It also applies to Norwich Union business in the CGNU fund.