Surrender or sell on policies????

soba

Hi there,
I have 2 policies which I no longer require. I have read various threads on here as to what options are available. I have looked on APMM site and started to fill in the valuation forms. I got to the bit about ""With-Profits" Basic Sum Assured:" and found that I didn't have these values. I phoned APMM to ask where I would find these amounts and was told that I wouldn't as the policies were linked to stocks (or something) and had no guaranteed pay out. I have looked at the policies and agree that there is no guaranteed amount at the end only life cover and what it may be worth at ?% growth.
So my question is, is my only option to surrender these policies to the companies the policies are with?

Policies are with Friends Prov and Pru.

Thanks

EdInvestor

soba wrote: »

So my question is, is my only option to surrender these policies to the companies the policies are with?

Yes, you can't sell them.

dunstonh

They cannot be sold as they have a daily value. If someone wanted those units they could buy them for the same value as you have them. So, why pay you more?

its a bit like asking someone to give you £12 for a £10 note.

On the upside, unit linked endowments have greater potential due to the availability of funds available and most have been running for in excess of projected growth rates for the last 5 years and many have returned to surplus or are getting close.