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Endownment surrender value


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This thread concerns endownment policies and the surrendering of these policies,

could it be that when a policy is surrendered the charge for surrendering could be deemed a penalty ie -the surrender value,

i'm not sure if this has been brought up yet, but it's worth a shout.

An appeaser is one who feeds a crocodile, hoping it will eat him last. <br />

Winston Churchill

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This thread concerns endownment policies and the surrendering of these policies,

could it be that when a policy is surrendered the charge for surrendering could be deemed a penalty ie -the surrender value,

i'm not sure if this has been brought up yet, but it's worth a shout.

 

have you got details of a policy and what it actually said?

Consumer Health Forums - where you can discuss any health or relationship matters.

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I'm not entirely sure. Endowments work differently in that they increase in value with accumulation of interest. If the surrender value is less due to being less interest accumulated then there is little you can do. If, however, you are actually charged a fee for ending early then this should be claimable provided the endowment was to last for a specified period.

 

Hope this helps

 

Zoot

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Thanks for the reply, i have just found out today i was mis-sold the endowment i took out in 1991, the reason being i was single and didn't need the insurance side.

An appeaser is one who feeds a crocodile, hoping it will eat him last. <br />

Winston Churchill

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