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Selling an endowment without the original policy.
tonybee90
Posts: 1 Newbie
Hi,
Can anyone help me?
I've got an endowment policy with Phoenix ,which I took out in 1988 and would now like to cash in. I've been in touch with a couple of potential purchasers who are offering £1700 to £2000 more than the surrender value. Unfortunately I've only ever had a copy policy, not the original and both purchasers have said they won't proceed without a replacement policy.
Phoenix say they don't issue replacement policies and, to make matters worse, their quote says that I need the original policy document even just to surrender the policy back them. So, it seems as though I could be stuck with the policy until maturity - which, in this case, is akin to throwing all the future premiums down a mineshaft.
Has anyone come across this before? Is there a way round it?
Regards
Tony.
Can anyone help me?
I've got an endowment policy with Phoenix ,which I took out in 1988 and would now like to cash in. I've been in touch with a couple of potential purchasers who are offering £1700 to £2000 more than the surrender value. Unfortunately I've only ever had a copy policy, not the original and both purchasers have said they won't proceed without a replacement policy.
Phoenix say they don't issue replacement policies and, to make matters worse, their quote says that I need the original policy document even just to surrender the policy back them. So, it seems as though I could be stuck with the policy until maturity - which, in this case, is akin to throwing all the future premiums down a mineshaft.
Has anyone come across this before? Is there a way round it?
Regards
Tony.
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