Cash in your endowment policy
There are many reasons to cash in your endowment policy early. You may be getting divorced, re-mortgaging your house, paying off debt or simply restructuring your finances.Many decide to surrender their endowment back to the providing life company without realising the alternatives. There are, however, other options available; options that could get you a bigger pay-out. ...
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- Cash in your endowment policy updated Tue Aug 28 2007 5:21 am CDT
There are many reasons to cash in your endowment policy early. You may be getting divorced, re-mortgaging your house, paying off debt or simply restructuring your finances.Many decide to surrender their endowment back to the providing life company without realising the alternatives. There are, however, other options available; options that could get you a bigger pay-out. Selling or surrendering? Andy Mossack, Marketing Director of the UK’s biggest endowment buyer aap, said: “I believe there are thousands of people who have been panicked into surrendering their policies needlessly because they have not understood the options.”So if you want to cash in an endowment policy you should investigate all the options, to ensure you get the best deal for you. Finding out about alternatives Your life company now must, by law, make you aware of the alternatives to surrendering your endowment. That is what investor Laura Rowlands did. She said: “I contacted my life company to find out the surrender value of my endowment and they gave me a quote.“They also gave me a list of endowment policy buyers to find out if I could get more for it that way. By selling my endowment I got over 10% more.”If you have decided to cash in your endowment policy, why not consider selling rather than surrendering it? Selling your policy is quick, easy and can get you a larger payment.This article was written by Scott Andrews on behalf of aap, the biggest endowment policy buyer in the UK. aap can offer up to 35% more than the surrender value of your endowment. If you have decided to cash in an endowment policy, go to http://www.aap.co.uk for more information.
Tue, 28 Aug 2007 10:21:02 +0100
