Selling endowments early life policy cash-in value endowment policy teps trading redeeming an endowment sell to tep broker early cash-in value of endowment policies life assurance quotations qualifying life policy surrender tep,s advice endowment deals surrendering with-profits life insurance policies redeption of life policy
If your With Profits Endowments Policy is no longer
wanted, think before surrendering it back to the
life company.
AAP, Absolute
Assigned Policies are the leading buyer of "with
profits" endowment policies. If you provide the
details of your policy to them they can determine
if they are able to make you an offer, will write to you
direct.
On many policies you
can achieve an offer significantly above the
surrender value. AAP are usually able to make an
offer on endowment policies that are traditional
with profits endowment policies, at least six years old and with a minimum surrender value of
£5000.
Why do people
surrender or sell with-profit
policies?
The reasons are
varied but are usually attributed to a change in
circumstances such as redundancy, divorce or a
change in mortgage arrangements. In normal
circumstances, it is best to continue with a
with-profit endowment to maturity, but for various
reasons this often does not happen. It is important
for anybody thinking about encashing a policy to
consider all options. These are:
Surrendering endowment
policy direct to the issuing life
office.
Borrowing against
the policy, either from the issuing life office
or from a bank using the policy as
security.
Making the endowment policy
'paid up' which means no further premiums are
payable on the policy, but reduced benefits will
be received on death or maturity.
Auctioning the
policy. Selling endowment policy on the second-hand tep's
market.
Policyholders should also remember that if
they surrender or sell their endowment policy they will lose
the benefit of the life assurance protection, and
if their policy is with a mutual life office which
subsequently demutualises they would lose the
potential of any windfall payments. However if you
have considered these alternatives and have decided
to encash your with profit policy then esp should
be able to help you get the best price.
The Teps Market
Every year approximately £90 million is
lost by people who surrender endowment policies back to the life companies. Most
people are not aware that there is a thriving
second-hand market in endowment policies and a large
number of market makers eager to purchase unwanted
with-profit policies to sell on to individual
investors or specialist investment funds.
TEP Market makers are often prepared to pay a
substantially higher price for these policies than
the insurance companies endowment surrender values. Somewhat
surprisingly however, there can be a large
variation in the offers made by the various market
makers and therefore people who have made the right
decision to sell rather than surrender, may not
ultimately achieve the best price unless they make
use of a service like ours.
Using a Tep Broker
By submitting basic information on your policy,
brokers are able to consider offers and quotations
which may and almost certainly will be better than
the surrender value of with profits policies.
AAP liase with market makers to
identify the best possible price for policies.
With their knowledge of the individual market
makers and requirements, they can usually negotiate
substantially higher cash offers than an individual
going it alone. It is quite usual for brokers to
achieve sale prices above the insurance
company surrender valuations and sometimes on
certain policies, may obtain significantly more the surrender value.
AAP provide an execution-only service for
clients who have already made the decision to
encash their with-profit policies, meaning that we
will not offer advice or exercise any judgement on
the merit of any policy sale.
If you wish to receive independent advice
regarding the alternatives then please contact an
independent financial adviser.
How to contact AAP
AAP will research the market and provide a
quotation for your with-profit policy, complete one
the enquiry forms and click the send button.
Check the following list to see if your
policy will be of interest to the TEP market makers.
Is issued by an established life insurance
company ?
Is a traditional with profits endowment or
with profits whole of life policy ?
Has run for at least six years ?
Has it an endowment surrender value of at least
£5000 ?
Then AAP should be able to quote for your policy.
The service is
Confidential Free without obligation.
Remember that if you want a quote you will
need to find the policy documents at some
point. You will be better off finding those
documents and filling out medium or extended
form which sets out exactly what are required
and avoids numerous iterations by telephone and
post.
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Beacon Hill Roll Call: House bill loosens nonprofit endowment fund spending restrictions (Cambridge Chronicle & Cambridge Tab)
House 152-0, approved a bill removing some of the restrictions that prohibit nonprofit organizations from spending their endowment funds. Current law bars nonprofits from spending endowments that are worth less than their original dollar value when first received by the group - a situation that is occurring regularly because much of this money is invested in stocks that have taken a beating ... 11:16 AM 07/03/2009
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YELLOW SPRINGS — Antioch College alumni and supporters will attempt to resurrect the liberal arts college amid one of the worst economies ever for higher education, according to academic officials and observers. “One of the challenges for Antioch or any college starting from scratch right now is that you already have many established players who are struggling,” said Jeffrey Selingo, editor of ... 11:07 PM 07/03/2009
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Puducherry,Jul 2 : The fact-finding committee probing the clash between two groups of fishermen of Vambakeerappalayam Village on June 20 to put an end to financial irregularities and power struggle among fishermen of the village in respect of temples, the government should bring the temples in the village under the control of the Hindu Religious Endowments Department. 08:19 AM 07/02/2009
AAP on 0208 732 5865 