Get a quote to buy your endowment policy
As financial consultants, we always recommend that you keep paying
your endowment plan until maturity. If you surrender early, you pay a
penalty charge and lose out on the terminal bonus at the end. However
we realise there are some circumstances in which you need to cash in
and if you are in this situation, the secondary market will pay more
than the insurance company surrender value.
AAP
AAP is a leading market maker and acts as the principal when buying
an endowment policy. You can contact AAP from this site to get a FREE
valuation. AAP will take care of all the administration and communicate
with you directly. Complete
the application form and fax direct to AAP for a quotation.
What are the benefits of selling to AAP?
AAP pays up to 25% more for an endowment policy than the issuing insurance
company. The length of time the policy has been in force and the choice of
life company will determine if AAP can make an offer and will affect the
price paid. AAP will speedily value the endowment policy at no charge and
if the policy is suitable will make a firm cash offer within 48 hours if
all the policy information is available. Should you decide to sell your policy
to AAP, an experienced and efficient legal team will complete all the paperwork,
liasing with the life office, transferring title of the policy and preparing
a cheque for you at no extra cost.
Is the policy suitable for sale?
AAP only buys With-Profits endowment policies (i.e. not unitised). Other criteria
which determine the suitability of a policy includes the length of time that
a policy has been in force. As a guideline, a with-profits endowment that
has been in force for a minimum of 7 years with a surrender value of at least £1,500
and still has over 7 years left to run, will be of interest
The policy is secured on a mortgage - is this a problem?
If the value of the policy is greater than the loan, or if the loan is being
re-paid or you are re-structuring your finances, this would not prevent you
from offering the policy for sale.
How do I sell a policy?
To facilitate the transaction, you will need to provide AAP with the following
information, most of which can be obtained by the policyholder from the insurance
company:
- Name & address of the life (lives) assured
- Name of the life office
- Policy number
- Commencement and maturity dates
- Basic sum assured
- Total bonuses declared
- Date to which bonuses declared
- Current surrender value
- Gross premiums payable and premium frequency
AAP are regulated by the Financial Services Authority
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