Should you choose to sell your policy then Neville James will
endeavour to find you a higher price for your endowment policy.
Don’t forget that when you sell/surrender your endowment policy
you will lose the valuable benefit of life cover. It is imperative
that you seek a quote immediately as this can take some time for
the underwriters to arrange replacement cover. To receive a highly
competitive life cover quote from multiple providers please contact
Neville James on 01684 571887.
Should I surrender my endowment policy?
No! Before a ‘seller’ surrenders their policy back
to the issuing life office, it is highly likely that the surrender
value quoted by the life office can be beaten. Without obtaining
further quotes for the policy the ‘seller’ could be
missing out on a much higher price, effectively wasting a proportion
of the sale price. Over 50% of people make that mistake every year by
surrendering, when on average returns of 2%-20%, and in some cases 25%+, above
surrender value could have been available by selling the policy to an
Once a policy has been submitted to us at Neville James we will
value your policy and contact you, the ‘seller’, with
the highest valuation that we can provide above surrender value.
Are there any downsides to selling my policy?
Apart from all the obvious benefits of selling your policy and
freeing up capital, there are going to be downsides. You lose
your life assurance that comes with the policy as it becomes assigned
to the new purchaser of the policy. If the ‘seller’
holds a policy with a mutual life office and they subsequently
demutualise, then the ‘seller’ may lose any rights
to a potential capital windfall. The same downsides exist if you
surrender the policy. If in doubt seek financial advice from a
qualified Independent Financial Adviser.
Are there any other alternatives to surrendering or selling
Yes- A ‘seller’ may want to consider borrowing against
the endowment policy. Another option is to make the endowment
policy ‘paid up’, meaning no more premiums are payable.
However, reduced benefits are available upon death or maturity
and no cash is freed up immediately. For more information contact
your life office or Independent Financial Adviser.
Once the ‘seller’ has considered the alternatives
available to them, and has decided that selling the policy is
in their best interests, this will then enable Neville James to assist
them in finding the best price for their policy.
Get a quote now!