Life Cashing in Life Insurance???

W

WillFred

Guest
I've been paying a small monthly amount into a life insurance policy for over twenty years. I've just been laid off and could use some extra cash. Would anybody buy the policy from me? Should I talk to the insurance company, or a broker. Are there specialist dealers in bought-out policies?

I'm single, with no dependants.
 
What sort of policy is it?

If it's an endowment policy, you may be able to sell on the policy. There used to be three companies buying endowment policies: -

Irish Policy Exchange Company Ltd 066 711 7677
Endowment Policy Purchasing Co. Ltd. ([broken link removed])
Endowment Exchanges Ltd 061 923 025

But my list above is old and may be out of date.

If you are considering selling or cashing in an endowment policy, make sure that there's no imminent bonuses that you'll be forfeiting.
 
Many thanks for your help and advice - much appreciated
 
You should phone up your life assurance company too to find out the surrender value of the policy. They will tell you if it's the type of policy that can be sold to a third party.
Don't get your hopes up. Your policy may not have a value at all.
 
Thanks! I rather suspect that might be the case, but I'm an optimist by nature!

Kind regards.
 
You must log in or register to reply here.
Back
Top