Alba Life Endowment

Alba Life Endowment

If you have an Alba Life endowment, it is now controlled by Phoenix, which is part of the Resolution Company. The life assurance businesses of six companies were moved into Phoenix Life Limited in 2006, and these included Alba Life. Endowment was a popular option in the 1980s, but unfortunately, for many people, over optimistic assumptions with regard to investment performance were made at outset and investment returns over recent years have not lived up to expectations. Disappointing investment performance has meant that investors are looking at surrendering their policies back to their insurance companies.

If you have an Alba Life endowment, and you are thinking of surrendering it, you should look into selling it instead – you could get significantly more than your insurance company is willing to pay if you sell it onto a broker. 

Remember, if you do sell your Alba Life endowment policy, you will no longer have life cover, so you should consider whether you need an additional life insurance plan to ensure you are adequately covered.

You should be aware that not all endowments are suitable for selling on the second hand market and generally only those traditional with profit policies that are at least five years old will be saleable.