How long does it take selling Endowments?
Once you have accepted an offer to sell your Endowment, it normally takes between 6 to 8 weeks to complete.
Can All Endowments be traded?
No, only With-Profits Endowments normally, and there is no minimum surrender value or minimum term.
What will I need when selling my Endowments?
The original policy document, proof of identity, address and age. We will guide you through the process of selling endowments.
How does the Quotation system work?
When a policy is submitted to the system, the sophisticated matching engine, which contains the market makers buying criteria, will instantly display the best offers available. The highest offer can then be accepted or declined.
Am I committed to an offer if accepted on line?
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.
What is a Traded Endowment?
A traded Endowment policy (TEP) is a conventional with-profits endowment policy that the original policyholder has sold before maturity.
What is a With-Profits Endowment?
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). The above is providing that the premiums have been paid as contracted.
Where can I find more information on selling endowments?
How will I know if my policy is a With Profits policy?
If you receive an Annual Bonus statement from your Insurance Company then you have a With Profits policy.
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