Only 38% of 1064 participants quizzed in a recent survey by Surrenda-link, the Traded Endowment Policy (TEP) Market Maker, were looking to sell their endowment policy due to concerns over performance. Other reasons for selling were given by the remaining 62% of respondents, with the need to
raise finances cited by 23% and 12% pointing to a change of home or mortgage.
"Following much negative press in the last twelve months, many may have assumed that grievances over poor endowment policy performance would be the runaway leader in this poll. Instead, our survey conducted via the Surrenda-link website, shows that there are many reasons why policyholders are looking to dispose of their endowments," comments Tim Sands, Sales
Manager at Surrenda-link.
Sands continues: "At the moment, debt consolidation is a concern for many. If policyholders can no longer afford the repayments on an endowment policy and need to realise capital to pay off credit card bills or loans, selling the policy could be the answer. By selling a policy to a market maker, rather than simply surrendering it back to the original life office, policyholders may realise a higher return."
Concludes Sands: "The TEP market has picked up in the last few months and we are buying more policies - as the number of survey participants shows, interest from buyers and sellers of TEPs is on the rise."
To participate in the latest Surrenda-link online survey, log on at
www.surrendalink.co.uk.
