Endowment policy redemption.

Mariner

Hi, can anybody please advise me as to what options I have with a Prudential, with profits, endowment policy which matures this month. The redemption value quoted is miserable, and I was wondering if anybody was aware of any other means of increasing the value.

I know that there used to be dozens of adverts offering to buy these policies, promising much higher returns on the policy, but these sem to be few and far between now. Any assistance would be greatly appreciated.

Many thanks.

brewerdave

There used to be a market in policies that still had years to go to maturity as the buyer could pay more than the Insurance Co. surrender value with a degree of confidence that the value at maturity including terminal bonus ,would show a "profit" over cost.But nobody will want to buy an endowment that's about to mature! What would be their incentive??The value that you have been given presumably includes all applicable bonuses - afraid that you are stuck with your redemption value.
Also,watch out for the Insurance Co's offer of "reinvesting " the money. I had a mailshot from Aviva when my last endowment matured about 6 months ago; they were offering a cash deposit account paying an absolutely pants rate of interest,think it was about 0.8% (before tax!!). I got 4% at the time from a Building Soc. for a 2 year fix, as I didn't fancy the Stockmarket at the time.

opinions4u

If it's due to mature in a few weeks, there won't be anybody willing to buy it.

The maturity value will be what you get. There's nothing you can do to change it, other than surrender early (which will reduce the value).

dunstonh

I know that there used to be dozens of adverts offering to buy these policies, promising much higher returns on the policy, but these sem to be few and far between now. Any assistance would be greatly appreciated.

No-one is going to buy it with a month left.