Things to Know Before You Surrender Your Endowment
Endowment trading is a very viable market, apart from government agencies a lot of private organizations is getting involve each passing day. lot of people every year either surrender or sell there endowment policy, a lot of endowment life policies normally last for as long as 25 years, but must of the policy owners are impatient because they can not wait until the policy mature for them to cash in on the endowment and give it up most at times the endowment policy surrender value by the insurance companies will not rise to the market value yet the investors are still eager to buy the traded policies as one of investment.
The endowment policy market thrive because there are a lot of people that are ready to endowment cash and other ready to buy them so that they can invest them for more cash, some time in 2003 it was estimated that not all the endowment policies in place will be able to pay off the mortgage they were taken out for, So most of them that have the shortfall have to re-mortgaged or ask for compensation yet most people are still yet to do something about their endowment shortfall. The law stipulate that within 1-3 years of people receiving their first RED LETTER, they should lay a complain outlining a likely shortfall either from their lender or insurance company, If complain not laid within those stipulated period any complain thereof shall be disregarded.
It has been speculated by specialist that endowments will reaches (peak) maturity by 2013 however for endowment policies holders selling the endowment policies earlier is a better thing to do considering the forecast ahead by the specialist, before the selling of the endowment policy the owner of the endowment policy have to contact the TEP brokers, then the details will then be forwarded to the trader who will now try to beat the present endowment price without any fee attached, if he accept the offer, then they can complete the acceptance form and return it back to them, after they have received it(ACCEPTANCE LETTER)they then go to the approach office for them to clarify the details.
The endowment policy buyer will afterwards be looking to place the policy into a portfolio with other numerous policies, and as soon as the endowment policy is kept into a portfolio they will be looking for the completion of the sale soonest, But never you fail to evaluate the advantages and disadvantages before you delve into endowment trading,
The endowment policy market thrive because there are a lot of people that are ready to endowment cash and other ready to buy them so that they can invest them for more cash, some time in 2003 it was estimated that not all the endowment policies in place will be able to pay off the mortgage they were taken out for, So most of them that have the shortfall have to re-mortgaged or ask for compensation yet most people are still yet to do something about their endowment shortfall. The law stipulate that within 1-3 years of people receiving their first RED LETTER, they should lay a complain outlining a likely shortfall either from their lender or insurance company, If complain not laid within those stipulated period any complain thereof shall be disregarded.
It has been speculated by specialist that endowments will reaches (peak) maturity by 2013 however for endowment policies holders selling the endowment policies earlier is a better thing to do considering the forecast ahead by the specialist, before the selling of the endowment policy the owner of the endowment policy have to contact the TEP brokers, then the details will then be forwarded to the trader who will now try to beat the present endowment price without any fee attached, if he accept the offer, then they can complete the acceptance form and return it back to them, after they have received it(ACCEPTANCE LETTER)they then go to the approach office for them to clarify the details.
The endowment policy buyer will afterwards be looking to place the policy into a portfolio with other numerous policies, and as soon as the endowment policy is kept into a portfolio they will be looking for the completion of the sale soonest, But never you fail to evaluate the advantages and disadvantages before you delve into endowment trading,
