endowment policy surrender value

[748rhydhir]

generally, would more money be realised if an endowment policy was a) cashed in or b)sold to a firm that buys unmatured endowment policies ?

[factor-fiction]

Don't know- but won't they both give you quotes?

[748rhydhir]

i was just wondering if anyone had experience of endowment policy surrenders & of any pitfalls that may have come to light during the process.

[R1Geezer]

you can only sell "with profits" policies, so if it's unit linked forget it. Now you should first apply for a surrender value. Then second hand policy dealers will hopefully exceed that. As a general principle for "with profits" policies it is better to sell them on rather than surrender. The reason fo this is the buyer is banking on a large terminal bonus from the policy.

[748rhydhir]

i shall pass on your advice to my daughter.
many thanks