Selling Your Endowment - Frequently Asked Questions
- What Endowment policies do you buy?
- What can I do if my Endowment policy is not a full with profits?
- How do I establish if my policy type is With-Profits or Unit-Liked?
- More Information on With-Profits Endowments
- Why should I use Your service to get a quote or sell my endowment?
- How long does it take to sell an endowment?
- When can I expect to receive my money?
- Can you tell me more about the the selling process?
- What will I need when selling my endowments?
- When am I committed to an offer?
Only With-Profits Endowments and there is no minimum surrender value or minimum term.
What can I do if my Endowment policy is not a full With-Profits?
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You can still fill out the form for endowment mis-selling the endowment
claims experts will examine whether or not you have a valid claim.
How do I establish if my policy type is With-Profits or Unit-Liked?
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Check your annual policy statement or bonus notice if it mentions units at all then
it is unit linked.
If it mentions bonuses as an amount in cash and adds them to the basic sum assured
then it is with-profits.
Unit linked with-profit policies also mention bonuses, however these are usually
in the form of percentages or bonus units.
Only with-profit policies sell on the second hand market.
More Information on With-Profits Endowments
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A With-Profits Endowment policy is a contract written by a Life Assurance Company to pay a fixed sum (called a basic sum assured), plus accumulated bonuses that are declared annually, to an assured person, on a fixed date in the future (or to his/her estate if he/she dies earlier), provided that the premiums have been paid as contracted.
Why should I use Your service to get a quote or sell my endowment?
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Please read the home page and why were different.
How long does it take sell an endowment?
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Once you have accepted an offer to sell your Endowment, it normally takes between 4 to 7 weeks to complete. In some cases, we can complete in days.
When can I expect to receive my money?
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You will receive a cheque for your policy as soon as all necessary clearances have been obtained by the Market Maker. The time taken will be dependent on many factors, and often it may be the life office which is taking the time. For more information please read The Sales Process
Can you tell me more about
the the selling process?
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Please read our The Sales Process page which explains the steps involved in selling your endowment.
What will I need when selling my endowments? back to top
The original policy document, proof of identity, address and age. We can guide you through the process of selling endowments. For more information please read
The Sales Process
When am I committed to an offer?
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The deal is subject to contract until you have signed the relevant documentation, and sent it back to the market maker's TEP transfer agents. Only then are you committed to proceed with the policy sale.
