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Ready to surrender my policy
moneysaver
Posts: 846 Forumite
Hi,
I am ready to surrender/sell my Friends Provident WP policy due to it not performing well at the moment. I have had an offer from Surrenda-link which is £809 more than the current surrender value. If they are willing to offer this much over the SV would I be better keeping the policy until maturity as I dont need the money at this moment. Surrenda-link must be going to make a profit out of this policy at the end of term in 7yrs or they would not buy it from me. Any ideas about this one?
Thanks
Moneysaver
I am ready to surrender/sell my Friends Provident WP policy due to it not performing well at the moment. I have had an offer from Surrenda-link which is £809 more than the current surrender value. If they are willing to offer this much over the SV would I be better keeping the policy until maturity as I dont need the money at this moment. Surrenda-link must be going to make a profit out of this policy at the end of term in 7yrs or they would not buy it from me. Any ideas about this one?
Thanks
Moneysaver
0
Comments
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The plan is obviously performing so badly that a company will pay over the odds for it. I think if you read between the lines Surrendalink know something you dont I would think about keeping it if it isnt killing youI like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)0
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A lot of FP plans allow free switching into their unit linked fund range (not all as they did different versions over the years). That can make them appealing to someone who will offer a bit more than the surrender value but still have lot more in difference between the surrender value and the current value.
Sometimes even the bad performers are worth having if the difference between the guaranteed minimum payout and surrender value is quite high.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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