Ready to surrender my policy

moneysaver

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

Mr_helpful

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 you

dunstonh

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.