Has Anyone Sold An Endowment Policy?

1820

Just Looking To See If Anyone Can Tell Me Of A Company That They Have Used To Sell An Endowment Policy.

EdInvestor

1820

Try Googling for "TEPs" - traded endowment policies - that should bring up those companies still operating - many have closed down now.

Milarky

1820 wrote:

Just Looking To See If Anyone Can Tell Me Of A Company That They Have Used To Sell An Endowment Policy.

I've tried 'Policy Plus' - but no joy there so I took it back off them, I then tried 'Foster & Cranfield' [who auctoned it but it failed to reach the reserve price] and now I've placed it with 'James Neville' instead -based on their having the highest quote of any company at the time - they've had it since May and it won't sell at the price now, I suspect, because terminal bonus rates have been cut [and that effectively reduces the valuation by TEP even where your own policy's surrender value may may not drop very much or not at all as a result]

You can go through APMM for free quotes from member companies.

There was a very similar post: Endowment sale and this mentions https://www.investplease.co.uk which quotes you immediately, I think. Go here for a look...

Toyota_Man

I have sold two endowment policies this year using my IFA and The TEP Factory Ltd (Integrity).

Using my IFA has cost me 3 %, so watch out for this "hidden" off the top charge.

However The Tep factory gave me a buyers offer back in January and I only recently got it, almost 8 months later. The other policy took 3 months.

On the whole i got a lot more back than just cashing it in, with minimal input and stress than selling it myself.

I would use The Tep Factory again.

1820

Could you please supply a web link many thanks.

dunstonh

The TEP factory are IFAs so what you are really saying is that you used one IFA who charged you one way and you used another that had a different charge.

If an individual came to me with an endowment to trade, apart from the fact I probably wouldnt do it so ignore that, I would almost certainly cost more than a company that does it all the time. Its the cornershop vs supermarket price difference type of thing.