Sales Process

The sales process for selling your endowment is straightforward and only takes an average of 4 to 5 weeks, depending on your insurance company. If you decide to sell your policy rather than surrender it to your insurance company, you are essentially signing over the rights of the policy to a third party in return for a lump sum.

This means that the buyer will continue to pay the premiums until the policy matures, at which point they will benefit from any profits made.

The sales process is usually an easy one, and you could get up to 45% more for your endowment policy, compared to the surrender value. Simply:

• Complete our online enquiry form for a FREE quote
• Have to hand your endowment policy details including a surrender value from the last 3 months
• You will receive a response in writing within 3 working days
• Get 45% more for your endowment policy!

As part of the sales process, you will be asked to provide the buyer with the policy document and some proof of identity. The sale is complete once a legal deed of assignment has been executed, the documentation for which will be provided for you.

You will receive a cheque for the sale price which will be sent directly to you once the sales process is complete. You should bear in mind that if the endowment is still assigned to a building society or bank as security for a mortgage, then in some cases it can take several weeks to get the lender to release their title to the policy.

If you rely on your endowment policy for life insurance, then your should ensure that you replace the cover provided by the endowment with another one, as once you have sold the policy you and your family will not longer benefit from any life cover.