Selling your Policy FAQ

Selling Your Endowment - Frequently Asked Questions

• What Endowment policies do you buy?
• What can I do if my Endowment policy is not a full with profits?
• How do I establish if my policy type is With-Profits or Unit-Liked?
• More Information on With-Profits Endowments
• Why should I use Your service to get a quote or sell my endowment?
• How long does it take to sell an endowment?
• When can I expect to receive my money?
• Can you tell me more about the the selling process?
• What will I need when selling my endowments?
• When am I committed to an offer?

Only With-Profits Endowments and there is no minimum surrender value or minimum term.

What can I do if my Endowment policy is not a full With-Profits?       back to top

You can still fill out the form for endowment mis-selling the endowment claims experts will examine whether or not you have a valid claim.

How do I establish if my policy type is With-Profits or Unit-Liked?       back to top

Check your annual policy statement or bonus notice if it mentions units at all then it is unit linked.
If it mentions bonuses as an amount in cash and adds them to the basic sum assured then it is with-profits.
Unit linked with-profit policies also mention bonuses, however these are usually in the form of percentages or bonus units.
Only with-profit policies sell on the second hand market.

More Information on With-Profits Endowments       back to top

A With-Profits Endowment policy is a contract written by a Life Assurance Company to pay a fixed sum (called a basic sum assured), plus accumulated bonuses that are declared annually, to an assured person, on a fixed date in the future (or to his/her estate if he/she dies earlier), provided that the premiums have been paid as contracted.

Why should I use Your service to get a quote or sell my endowment?       back to top

Please read the home page and why were different.

How long does it take sell an endowment?       back to top

Once you have accepted an offer to sell your Endowment, it normally takes between 4 to 7 weeks to complete. In some cases, we can complete in days. 

When can I expect to receive my money?       back to top

You will receive a cheque for your policy as soon as all necessary clearances have been obtained by the Market Maker. The time taken will be dependent on many factors, and often it may be the life office which is taking the time. For more information please read The Sales Process

Can you tell me more about the the selling process?       back to top

Please read our The Sales Process page which explains the steps involved in selling your endowment.

What will I need when selling my endowments?       back to top

The original policy document, proof of identity, address and age. We can guide you through the process of selling endowments. For more information please read The Sales Process

When am I committed to an offer?       back to top

The deal is subject to contract until you have signed the relevant documentation, and sent it back to the market maker's TEP transfer agents. Only then are you committed to proceed with the policy sale.