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Death benefit after selling an endowment.
onzey
Posts: 830 Forumite
Hi
I am looking into selling an endowment policy which has a minimum death benefit of £15000. If it runs to maturity assuming 6% growth the maturity value is £12000.
If I sell the policy it seems to me the buyer would have an interest in my (or my wife's) early death! As I understand it, the policy remains in force unchanged with just a new owner, who would therefore obtain full death benefits if either of us should die before the maturity date.
Is this correct?
Thanks.
I am looking into selling an endowment policy which has a minimum death benefit of £15000. If it runs to maturity assuming 6% growth the maturity value is £12000.
If I sell the policy it seems to me the buyer would have an interest in my (or my wife's) early death! As I understand it, the policy remains in force unchanged with just a new owner, who would therefore obtain full death benefits if either of us should die before the maturity date.
Is this correct?
Thanks.
0
Comments
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that is correct.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.0
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