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Selling Endowment Policy
catlover48
Posts: 54 Forumite
I've received an offer from my endowment co. after making a claim for mis-selling. Do I have to stick with them or could I try to get a better offer from surrenderlink or one of those firms?
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Comments
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The calculation uses a defined method so unless you think the figures input are wrong then you accept the offer. With the markets having a good week or two, a recalculation could see the offer being reduced if you pushed the issue.
Surrenderlink have nothing to do with complaints. They are an alternative to surrendering the plan.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 -
You MAY be able to accept the compensation only, retain the policy and then separately sell it on the traded endowment policy (TEP) market.
Bear in mind not all endowment policies can be sold on the TEP market (only traditional with profits as opposed to unit linked policies) and it also depends on the product provider. It is possible that the providers surrender value will be higher than the TEP market is willing to pay so you would need to compare the options.0 -
Thank you both for your comments. I realise Surrenderlink has nothig to do with complaints, I'm just being a grabbing git ! or trying to be......thanks again0
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