Surrendering Endowment
Surrendering Endowment
Surrendering an endowment policy is an option provided by most issuing insurance companies. It allows you to terminate your policy early, allowing a cash return but at a cost. The cost of surrendering depends on the age of the policy at the surrender date, market conditions and company policy. Some companies are more generous than others.
Due to the uncompetitive terms of many insurance company’s surrender policies, the practice of selling an endowment policy to another investor has become more and more popular. Selling an endowment can yield a far higher payout than the surrendering of the policy, and many broker companies allow the matching up of buyers and sellers in the endowment policy market. Whether you can get a quote from somebody wanting to buy your endowment will depend on the policy age, the issuing company, and other details specific to the policy. To get a quote follow the easy 3 step process below:
- Endowment policy details can be submitted either by an online quote system
- Before making your call or beginning the quote process, be sure to have all your policy details ready.
- Your enquiry is sent to specialist endowment brokers who will contact you in writing if they can make you an offer.