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selling AXA policy

joop123
joop123 Posts: 260 Forumite
Part of the Furniture Combo Breaker
in Savings & investments
I have an AXA bonus cashbuilder ( i know bad idea) but i have now learnt my lesson and have decided to end this policy. I have rung for a termination quote, but i have heard that i may be able to get more by selling the policy. Is this a good idea and how do i find a buyer. I have had the policy approx 8 years.


Thanks

Paddy

Comments

  • ReportInvestor
    ReportInvestor Posts: 3,646 Forumite
    How much is it worth?

    Usually the endowment must have a surrender value in excess of £2,000 to be eligible.

    You do at least meet the minimum 5 year requirement.

    And it also needs the prospect of a decent terminal bonus to be attractive enough.
  • joop123
    joop123 Posts: 260 Forumite
    Part of the Furniture Combo Breaker
    apparently it is worth £2500
  • dunstonh
    dunstonh Posts: 120,009 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    This is a savings endowment and not a mortgage endowment. The things that can make a [good] mortgage endomwent attractive are usually not present in savings endowments. This is usually due to the shorter term, lower guaranteed sum assured and the providers in this area generally being of poor quality (AXA, Pearl, CIS, Refuge, Royal London etc).
    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.
  • ReportInvestor
    ReportInvestor Posts: 3,646 Forumite
    Give the people on this link a go, then

    And please report back with your findings :).

    Good luck, although I'm not optimistic.
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