Reasons to cash in on an endowment policy
Whether you are getting divorced, moving home or are worried your policy won’t cover mortgage costs, there are plenty of reasons why you may want to cash in on an endowment policy.Many people cash in their policy to quickly raise cash, perhaps to pay off substantial debts or due to divorce.If your circumstances change and you choose to cash in an endowment policy, you may think surrendering the policy is the best option. ...
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- Reasons to cash in on an endowment updated Wed Sep 12 2007 8:20 am CDT
Whether you are getting divorced, moving home or are worried your policy won’t cover mortgage costs, there are plenty of reasons why you may want to cash in on an endowment policy.Many people cash in their policy to quickly raise cash, perhaps to pay off substantial debts or due to divorce.If your circumstances change and you choose to cash in an endowment policy, you may think surrendering the policy is the best option. However, by looking at the alternatives you could make more than the surrender value.Surrender or sell?Apart from surrendering your policy, you could raise a loan against it from the life company or high street bank.You could also sell your endowment. Many companies specialise in buying endowment policies and may be able to offer you more than the surrender value when you cash in your policy.Dan Farrow of endowment buyer aap said: “Every day, people are losing more than £800,000, which is the amount that the traded endowment market would pay over and above the life office surrender values.”How to cash in an endowmentOnce you have decided to cash in your endowment policy, selling the policy is a quick and easy process. If you use a principal buyer when you cash in your policy, you won’t need to wait for your money. You could also get more money.One satisfied customer who sold her endowment is Laura Rowlands. She said: “I contacted my life company to find out the surrender value of my endowment and they gave me a quote, but 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.” This article was written by Scott Andrews on behalf of aap – the UK’s largest buyer of endowment policies. Visit http://www.aap.co.uk to find out how much your policy could be worth. Cash in on an endowment today.
Wed, 12 Sep 2007 13:20:05 +0100
