Monday 6th February 2012
Call 0800 698 1919 to Sell a Policy or get an Online Valuation...
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Why spend hours searching for the best price?When we can search and negotiate for you!
We are able to provide quotes for a wide array of endowment policies including:
Click here for a list of endowment companies we cover.
Click here for a list of endowment companies we cover.
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Selling FAQs
- Which endowment policies do you buy?
- How long does it take to sell an endowment policy?
- When will I receive the funds from the sale?
- What information will I need?
- At what stage am I committed to sell?
- When should I stop paying the premiums?
- Why do you need to carry out a bankruptcy search?
- What if there is a loan against my endowment policy?
- What should I do if I have lost the paperwork for my policy?
- What is the alternative to selling my endowment policy?
Any offer we make on an endowment policy will always behigher than the surrender value!
FAQ Answers
Endowment FAQs
Q: What is an endowment policy?
A: A traditional with-profits endowment policy consists of a combined savings and life insurance policy. Your premiums are invested in a with-profits life fund that consists of a basic 'sum assured' and any annual bonuses awarded. The value of the endowment policy increases each year and provides a guarantee that on maturity at least the minimum amount of funds (sum assured) invested will be paid out.
Q: Why the fuss over endowment policies?
A: Before their fall from grace endowment policies were seen as a lucrative investment option and many home buyers saw endowment policies as the best way to pay for their home. They simply had to opt for an interest only mortgage and couple this with an endowment policy whose projected maturity value would be sufficient to repay the mortgage at the end of the term. Endowment polices were also promised to provide surplus funds over and above the mortgage amount needed.
During recent years the popularity of endowment policies have fallen significantly and they are no longer seen as a viable investment option by the majority. Warnings of poor performance, projected shortfalls and claims of misselling have caused many to surrender their policy back to their life assurance provider or sell it to a policy purchaser.
Q: Should I surrender my endowment policy?
A: If you have an unwanted endowment you should contact your Life Assurance company in order to obtain its current 'surrender value'. Before deciding to surrender the policy it is well worth obtaining a quote for the amount you would receive if you sold your policy instead.
Q: Should I sell my endowment policy?
A: There are many reasons why people choose to sell their endowment policies, whether you decide to commit to a sale will depend on your individual circumstances and whether you are happy with the purchase amount offered.
Q: What are TEPs?
A: TEP is short for Traded Endowment Policy and refers to endowment policies that are sold by policyholders and bought by policy purchasers (also known as market makers) before the policies maturity.
Q: Why use endowments.uk.com?
A: We deal exclusively with endowment policies and so have specialist knowledge of daily fluctuations in the market and can respond to its demands immediately. Additionally, we are constantly sourcing market leading offers to enables us to negotiate you the best valuation from our market makers. To ensure that we are able to offer your policy to a wide range of buyers and secure you the best deal possible, we take a 'whole of the market' approach to endowment selling rather than entering into exclusivity deals with specific buyers. As a result we are able to guarantee that any offer made will be higher than the current surrender value of your policy.
Selling FAQs
Q: Which endowment policies do you buy?
A: We are able to provide valuations for with-profits endowments only.
Q: How long does it take to sell an endowment?
A: The exact timescale that the sale of an endowment takes depends on a number of factors, however the vast majority of purchases are completed in between 4-7 weeks with some being finalised in a matter of days.
Q: When will I receive the funds from the sale?
A: You will receive a cheque for the proceeds of the sale as soon as all of the necessary information has been obtained and checks have been made by the policy purchaser.
Q: What information will I need?
A: To sell your endowment policy you will need to have access to the original policy document, the current 'surrender value' of your policy (you can obtain this from you Life Assurance company) as well as valid proof of identity, address and age.
Q: When am I committed to sell?
A: You will be committed to the sale of your endowment policy when you have signed the relevant documentation and returned it to the policy purchaser.
Q: When should I stop paying the premiums?
A: You will notified as to when you should stop paying the policy premiums when you receive the official offer for your policy. It is important that you continue to pay any premiums that are due possibly up until completion as this will prevent the policy from becoming invalid. If you have paid any premiums after the date specified on the offer, you will be reimbursed by the policy purchaser.
Q: Why do you need to carry out a bankruptcy search?
A: When you sell your endowment policy representatives of the policy purchaser will carry out a bankruptcy search to ensure that you are entitled to the proceeds of the sale. This is carried out near completion as up to date information is needed.
Q: What if there is a loan against the policy?
A: If you have secured a loan against your endowment policy the policy purchaser will repay this amount when they take on the policy. They will then deduct the remaining loan amount from the final proceeds that you receive.
Q: What should I do if I have lost the paperwork for my policy?
A: If you have lost the original paperwork for your endowment policy you should contact your Life Assurance company as they may be able to issue you with a replacement. When selling a policy it is not sufficient simply to have a copy of the original paperwork; an original is needed.
Q: What is the alternative to selling my endowment policy?
A: If you choose not to sell your endowment policy you have several options, all of which require you to contact the policy provider. You can either surrender the policy back to the Life Assurance company, take out a loan against the policy or apply to have your policy 'paid up'. This final option means that you will not be required to pay anymore premiums, however you will only be eligible for a reduced amount on maturity.
endowments.uk.com is a trading style of 
Limited who introduce to Windfall Limited who are authorised and regulated by the Financial Services Authority. Any offers within this site do not represent personalised advice and are on an execution only basis. Always consult a professional independent adviser if in doubt.
© 2007 endowments.uk.com. All rights Reserved. About Privacy Policy
Limited who introduce to Windfall Limited who are authorised and regulated by the Financial Services Authority. Any offers within this site do not represent personalised advice and are on an execution only basis. Always consult a professional independent adviser if in doubt.© 2007 endowments.uk.com. All rights Reserved. About Privacy Policy