surrendering your endowment policy
Is surrendering a good idea?
Often not, for two reasons.
- The early years' premiums are often eaten up by commission payments.
So if you surrender early, you could get less than you put in, or even
nothing at all.
- A lot of the return you get from an endowment policy is paid as a
terminal bonus, when the policy matures. It can be up to two thirds
of its value.
Is cashing in your endowment right for you? Talk to an IFA.
If you're cashing in, DON'T SURRENDER!
If you have definitely decided to cash in your endowment policy, don't
surrender it to the life company.
A specialist trader may give you more for it. It should be a with profits
endowment policy, not a unit linked policy.
We can help:
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