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 ‘investor’

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 my policy?

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!