Who will buy my endowment policy?
Are you asking yourself “who will buy my endowment policy?” If you are getting divorced, it is important things go as smoothly as possible. Divorce is stressful enough, without financial difficulties adding to the problems. Many people going through a divorce decide to cash in their endowments to free up cash, either for legal costs or to fund the purchase of a new home. ...
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- Who will buy my endowment policy? updated Wed Sep 12 2007 8:15 am CDT
Are you asking yourself “who will buy my endowment policy?” If you are getting divorced, it is important things go as smoothly as possible. Divorce is stressful enough, without financial difficulties adding to the problems. Many people going through a divorce decide to cash in their endowments to free up cash, either for legal costs or to fund the purchase of a new home. If you have decided to surrender your policy due to divorce, you should look into other options.For example, some companies will be willing to buy your endowment policy. They could even offer more than the surrender value of the endowment.Divorce is one of the most common reasons to cash in endowments. According to companies that buy endowment policies, most people sell because:They are getting divorced They want to reduce debt levels They are re-mortgaging their home They are restructuring their finances Why buy my endowment policy? Buying endowments has benefits both for the seller and the company buying the endowment.The seller gets access to a lump sum, which can be up to 35% more than the surrender value of the policy.The company buying the endowment policy can sell it on to larger investors, who will hold the policy until it matures – possibly leading to a return on their investment.According to Andy Mossack, marketing director of aap, specialists in buying endowments, many people surrender their policies because they do not know other options are open to them.He said: “I believe there are thousands of people who have been panicked into surrendering their policies needlessly because they have not understood the options.“Apart from getting more for their policies by selling through a company like mine, they could make a policy paid-up or could raise a loan against it, either from the Life Company or from most high street banks.” Selling your endowment policy Companies that specialise in buying endowment policies should be able to give you a quick and easy valuation of your policy, as well as taking you through the alternatives to surrendering.If you are considering surrendering your endowment, it is highly important you know all the options that are available to you.After all, it could mean up to 35% more cash. 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. You’ll see aap is the company to buy your endowment policy.
Wed, 12 Sep 2007 13:15:22 +0100
