Endowment Policy maturing soon - No longer have property

chorlton

Hi

I have an endowment policy which matures in in a few weeks - the flat it was meant to pay for was sold a long time ago and i kept the endowment on as a saving fund.

Does anyone know if i need to do anything like provide proof of having paid off the mortgage to make sure the money comes to me? As flat was sold quite a while ago I am not sure where any paperwork I had is... so want to get on the case if i do need documents!

thank you

holly_hobby

Only if the policy was and remains assigned to the lender (although they should have removed this when the mge was redeemed, some omit to do this). If no assignement the proceeds will go directly to you (check they have your correct contact details).

So in the first place, you need to contact your provider and ask them if the policy is/remains assigned, if so you will need to contact the lender to have them release their assignement, so that the monies go directly to you upon maturity.

Hope this helps

Holly

glosoli

The bank will have to provide a certificate/charge of no interest to the endowment provider, you can ask that your bank posts/faxes this document directly to the endowment provider.