Endowment holders who think they are stuck with a dud policy could be in for a pleasant surprise according to companies eager to purchase their policies.
Thanks to a buoyant resale market, with-profits policyholders whose mortgage endowment has failed to perform could sell their policy for substantially more than the surrender value.
Companies that deal in traded endowments – the term given to resold endowment policies – say they are seeing huge demand for unwanted policies, mainly from German investment funds keen to buy what they see as a good long-term, low-risk investment.
Unfortunately, not all endowment policies are in demand, but those that are can reach up to 30% more than life companies offer in surrender value. People interested in selling on their endowment should contact firms that are members of the Association of Policy Market Makers, the trade body for FSA-regulated firms that deal in traded endowments.
To explain more about traded endowments and why the value of policies has risen, Paul Harrison, of 1stPolicy, a member of the APMM, has written the following guest article for This is Money:
Companies that deal in traded endow
Unfortunately, not all endowment policies are in demand, but those that are can reach up to 30% more than life companies offer in surrender value. People interested in selling on their endowment should contact firms that are members of the Association of Policy Market Makers, the trade body for FSA-regulated firms that deal in traded endowments.
To explain more about traded endowments and why the value of policies has risen, Paul Harrison, of 1stPolicy, a member of the APMM, has written the following guest article for This is Money:
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