If you are considering cashing in your endowment policy then you will want to find out the policy surrender value. The surrender value of your insurance policy will differ depending on where you surrender your endowment to.
Surrendering your endowment insurance policy should only be done once you have all the proper facts and figures in front of you. Even if you are in desperate need of realising the cash you need to do your research to get the best possible policy surrender value. A bit of online research and a few phone calls should set your mind at rest.
When you first set up your endowment policy you would have discussed the value the insurance policy would hope to achieve. This then determined the premiums you would pay into your policy based on what the brokers assumptions were of its potential growth.
You may consider your endowment paid up option on your policy, you may be able to make the endowment policy paid up which means that you stop making premium payments into it. This may be an option if you do not want to sell or surrender it but do not want to keep throwing good money after bad.
Another option is to get the endowment policy surrender value, to do this you will have to contact the insurance product provider. If you got your policy from Standard life you would have to contact them. Whoever your policy is with you should have a contact address or telephone number where you can speak to a policy manager about surrendering your policy.
You should also consider selling your policy, you can do this on the secondary market for endowment policies. The secondhand endowments market means you now have another option for cashing in your policy. Whilst you are waiting for a surrender value from your insurance company you can find contact details of secondary market endowment brokers on the internet.
Calling a secondary endowment broker means you could be getting a lot more for your policy surrender value. This is worth considering as in the past the only option was to surrender your policy, now you can sell it. A broker will try to find a buyer for your endowment policy where you could get up to a third more than what your insurance company is offering.