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Cashing in Endowment
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PAVAROTTI
Posts: 1 Newbie
is there any better way of releasing cash off an endowment policy other than cashing it in with the provider?
0
Comments
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Does depend on what kind of endowment policy you have - if it is Unit Linked then you have no other option than cashing it in with provider. If it is a traditional with profts policy then in the past you might have also considered the TEP route (Traded Endowment Policy) selling it on to an investor. The TEP market is all but dead now so unlikely you will have that avenue open.
You may have options within the policy to make it 'paid up' ie so you hold it to maturity but dont make any further premium payments into it. You will get a reduction in your sum assured and its ultimate value this way but it would free up some cash in the meantime.0
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