I have been mis sold my endowment and am now thinking of cashing it in. I have heard you can sell the policy on to companies that pay more than the original provider. Has anyone done this if so is it easy and do you get more money. Also any tips on who to use (or not)
2007-01-17 23:40:21 · 4 answers · asked by June S 1 in Business & Finance ➔ Other - Business & Finance
I sold three policies through:
http://apmm.org/
I got a few grand more than the surrender value. Well worth the little bit of extra hassle.
2007-01-17 23:46:00 · answer #1 · answered by mcfifi 6 · 0⤊ 0⤋
Oth was the only one with the right answer. The current owner signs a form that transfers the ownership of the policy to the buyer. Then the buyer changes the beneficiary on the policy. It is a bad idea to sell the policy. Maybe you can print out this question and show it to your relative. Usually you get ripped off. You get pennies on the dollar for the policy. I would STRONGLY advise against it.
2016-05-24 02:58:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If as you say this was a mis-sale then you need to look into getting compensation. If you sell it on before you do, it MAY affect your claim - you need to check that aspect first
2007-01-17 23:44:15 · answer #3 · answered by big pup in a small bath 4 · 0⤊ 0⤋
We were awarded compensation for being mis sold
It's worth a try and quite straightforward.Good luck
2007-01-17 23:46:50 · answer #4 · answered by Scotty 7 · 0⤊ 0⤋