endowment surrender

[kujawski]

Has anybody got any ideas on what would be a rough surrender value for an endowment policy which has been payed into for 74 months at 132.80p per month, due to mature in 2024 (at a value of 66,500), but is no longer required?

[Nether Edge]

Contact the Association of Policy Market Makers.

It represents companies that buy secondhand life policies, at more than surrender value.

Tel: [phone]
Fax: [phone].

[steve2010]

not a lot,as the policy has not had enough time to get any groth,i would say about �4,000

[steve2010]

i mean growth

[C-C]

You've paid �9827, if you are lucky you might get a third of that back. The life company will deduct their commissions, admin fees & costs of the life cover the policy has provided over 74 months. Either sell the policy as Nether Edge suggests to make more money or ask the life company if the policy can be Paid Up. Thien you won't have to pay any more premiums but you'll still have a lump sum in 2024 based on the growth. Bear in mind the sum would still be lower than forecast because it hasn't had the full premiums paid.

[kujawski]

thanks every one,

so it might be better just to leave it as is and hope for a nice lump sum on my 52nd Birthday. then i can buy myself a bigger boat.

[dzug]

Why do you say 'no longer required'?

Do you not need life insurance?
Do you not need savings?

Now continuing it may not be the best way of meeting these needs but it is an option.