Sell endowment now!
So you're ready to offer your endowment to prospective buyers
Tradable Policies
Summary of a tradable policy:
An endowment policy that is with-profits and is at least 5 years old, with a surrender value of £1,500 or more.
If your policy or policies match the summary above click here to obtain a FREE valuation.
Preparing your endowment for sale
Firstly you will need a current offer from your life company (within the last 3 months) to buy back the policy, this is known as the surrender value.
The buyers need to know what your life office is willing to pay you for the policy in order to accurately value your endowment and try to exceed that offer. The life company who issued the policy must give it a market value for the process to begin. This seemingly small snippet of information is the single largest cause of delay in the valuation system, so this is a must in other words.
We also need to make sure it's the right kind of endowment policy, as not all are tradable. If you have received a bonus statement from your life insurance company it is likely that you own a with profits or whole life endowment policy. If you don't receive bonus statements it could mean your policy is unitized or unit linked which, in either case means unfortunately your endowment is not tradable through the usual channels. You can establish exactly which type of policy you own by speaking to the life office, try our life office phone numbers page if you are unsure of how to contact them.
If you discover your endowment is unit linked don't despair, take a look at the endowment compensation page to see how your policy could still earn you thousands in money you may not yet know that you are legally entitled to.
Once you are happy that you own a with profits or whole of life type endowment policy and you have a bonus statement to hand, it's time to work out exactly what information the buyers require to make an offer on your endowment policy or at least give you an endowment valuation. All the information boxes on the endowment valuation page require information if you have it, but the boxes with a red star next to them are manditory information boxes so must have an entry. The more information that you supply the more likely that you will recieve a prompt and healthy amount of interest in your endowment. Good luck, we hope that you get the offer you're looking for.
PLEASE NOTE: IT IS ONLY POSSIBLE TO TRADE YOUR ENDOWMENT POLICY THROUGH THIS WEB SITE IF IT IS A WHOLE OF LIFE OR TRADITIONAL WITH PROFITS ENDOWMENT POLICY.
