best place to sell an existing endownment?

hollowaykid

Hi, can anyone recommend the best place to sell an existing endownment? I have paid in 12.5 years and there is another 12.5 years to run but I am looking to surrender it. I have contacted the L&G for a surrender value but want to see if I can a better deal elsewhere. Any advice would be welcome

Helen_from_yorkshire

It depends on which endowment company you are with as companies are not interested in them all. We have recently sold a Clerical and Medical policy that had another 8 or so years to run and we got an extra £600 on top of the surrender value from CM. Not much, but better than nothing.

The company we used was Neville James, they are based in Chichester, West Sussex, sorry dont have telephone number. Hope this helps.

dunstonh

Companies that are willing to buy your endowment usually only pick on those that are worth having. You do need to ask yourself why they are willing to buy it.

Big generalisation here but its good enough to make you think; if no-one will buy it, its not worth having. If someone wants to buy it, then they think its good enough to have. Are you giving up something thats worth keeping? Loads of very good endowments have been surrendered or sold by people that havent checked them carefully. Nowadays, TEP companies only want the good ones.

EdInvestor

Yes, getting a quote from a TEP trader is quite a quick and easy check on whether your endowment is worth keeping or not.Given it's difficult to get clear cut advice on the matter, this can be quite useful - if it's really duff they will tell you immediately.

ReportInvestor

The good news about L&G is that they started cutting bonuses (smoothing) in February 2000, before most of the rest.

You can get an instant quote for an L&G endowment policy

by clicking on this link

hollowaykid

Thanks for the replies. I will contact the link provided.

JoBridger

I'm afraid that you are unlikely to get a quote for your legal and general policy. With L&G it is very hard for TEP traders to offer more than the surrender value. This doesn't mean that your polic y is bad, just that the surrender value is proportionately higher than the net asset value (underlying value) than for some other Insurance companies - i.e they are more generous.