The First Stage Is To Find A Company That You Want To Sell Your Policy To

Category: Finance.

Selling endowment policies can seem like a daunting task at first because it is unlikely that you know much about it. The first stage is to find a company that you want to sell your policy to.

However, with a bit of research and with the help of professionals who know best you can get the process over quickly and easily. Make sure that you have researched the company properly and looked at a few others as well so you can ensure that you are going to get the best deal. A lot of people think that they can t sell endowment policies if they are secured on their mortgage. Once you have decided on a company to go with they will tell you how much your policy is worth and you can make a decision whether to sell it to them or not. However, this is not always the case because if the value of your policy exceeds that of your mortgage or the mortgage is being re- paid then you can still sell your policy. All companies are different when it comes to selling endowment policies because different companies accept different policies. Bear in mind hat every company is different however and therefore the terms and conditions are likely to vary slightly from company to company.

This means whereas one company might be more than happy to buy your policy you may not fit the requirements for another company. Another common question that those selling endowment policies have is usually about who will start paying the premiums when they have sold their policy. Therefore it is important to investigate this before setting your heart on a particular company. Once the sale has been completed it will be the responsibility of the new owner to pay the premiums. An independent financial advisor is a good person to go to if you are confused about selling endowment policies. You will stop paying this once ownership of the policy has been transferred and payment of premiums will be taken over by the new owner.

They are professionally trained to deal with this kind of subject matter and therefore will be able to assess your situation and advise you what the best course of action would be. Between the financial advisor and the company you decide to use there will always be someone there to help and advise you every step of the way so you can ensure that you have made the right decision.