Should I cash in or sell my standard life endowment life assurance policy ?
Some commentators are suggesting that, now that Standard Life has demutualised and become a plc, they will not pay out such good bonuses on their endowment policies. If this is accurate then now may be a good time to cash in your endowment policy. You have two alternatives - either to cash it in with Standard Life, or sell it. In the vast majority of cases, you will get a better price by selling it through an online dealer. On average, you can expect to get about 5% more for your policy. You should be aware however, that you may be better off holding on to the policy till it matures.
How do I decide?
You can get full details of the expected final value of your policy, from your life assurance company (in this case Standard Life). You can also ask them how much the surrender value would be if you cashed it in now. There are many online dealers who can give you an immediate quote to buy your with profits policy. You can then compare the prices.
NOTE: This website is for information only and should not be relied on for making financial decisions. Information mailnly applies to UK based individual members. You should check out the information with the Standard Life Guide and get advice from Standard Life or your IFA.
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