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Endowment..surrender or sell?
jennake
Posts: 80 Forumite
Hi ,I currently have an endowment policy which is underperforming,& as i don't need it for my mortgage was considering surrendering it & investing the money elsewhere.I've heard of people selling policies in the past & getting a better price,has anyone any experience on this?
Thanks
Thanks
0
Comments
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better conventional with profits endowments or those with high surrender penalties are often in demand and can be sold.
unit linked endowments have a daily value so there is no reason for anyone to buy them for any more than what they are worth on that day. That said, unit linked endowments generally offer better potential for growth and most have seen significant gains in the last few years to bring them back on track or not far off.
Who is your endowment with and what type is it?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 -
Thanks for the reply,it's a "with profits" endowment,& its with Freind Provident.0
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Sorry! that would be Friends Provident.0
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