Once This Has Been Done The Process Of Selling Your Policy Can Move A Lot Faster

Category: Finance.

When people are selling their endowment policies, chances are that they want to get the ordeal over with as quickly and easily as possible. Obviously, in order to work out how much endowment policies are worth the company you are selling it to needs to know some information about your policy.

Sometimes it can be a long and stressful process but there are a few tips you can follow in order to ensure that you sell yours as quickly and easily as possible. The majority of the information that they will need will be displayed on the policy certificate and the last bonus statement you received. In order to value endowment policies, the company you are thinking of selling it to will need an up to date surrender value for it. Without this information it is still possible to sell your policy but it will take longer than it will if you have this information to hand. You can get this by phoning your life office and asking for the information. People frequently confuse their death benefit with their sum assured values. Once this has been done the process of selling your policy can move a lot faster.

In order to value your policy the company needs to correct Sum Assured value of it but people usually confuse this with the policy s death benefit. The Sum Assured value is actually the minimum payout that the life office you are with would make if you were to continue paying the premiums up until the policy s maturity date. This often leads to delays because the company then need to get the correct information and start again. It is fairly easy to work this out because in most cases, the Sum Assured will be less than the total value of the premiums you will pay during the lifetime of the policy. This is because firstly you don t want to rush into anything and end up making a bad decision. One of the best tips that you can get is to ensure that you do your research when you are investigating selling endowment policies. As well as this, by looking around at several companies and taking your time over it means that you are more likely to get the deal that you are looking for.

If you are in a rush and go with the first company you look at you could end up selling your policy for a lot less than what you could have done.

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