There has never been a better time to sell an endowment, the latest figures from the Association of Policy Market Makers reveal.
Brian Goldstein, chairman of the APMM, says high levels of demand for traded endowment policies, mean consumers could see the best price paid for their endowment.
Goldstein says: “In my opinion, if you’ve made a decision to cash in your policy, there has never been a better time to sell it rather than surrender. Market makers are seeing unprecedented demand and are reporting that they are paying an average of 15 to 18% above surrender value for policies, up from an average of 10 to 15% earlier this year. In addition, in June of this year, some market makers were paying up to 36% more than surrender value for various policies which had 10 to 15 years to run.
“For policyholders who have decided to dispose of their policy, it is essential that they consider selling it rather than just surrendering as they could make a significant amount more. Also, because demand is at such high levels, market makers are far more likely to buy policies than at any time in the past.”
Mr Goldstein urged anyone who was thinking of disposing of their policy to seek professional advice before they acted.