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 Who
are The Policy Warehouse?
Why
use The Policy Warehouse?
Who
are the partners that you work with?
What
is the procedure following an agreement to sell my policy
via The Policy Warehouse?
When
do I stop paying premiums on my Policy?
What
happens to my life assurance?
How
long should it take until I receive my cheque?
What
do we need to value your policy?
Why
do people sell their endowment policies?
Who are The
Policy Warehouse?
The Policy Warehouse is a niche provider
of on line services to those wishing to sell their endowment
policies.
We have recognised that many of the
on line financial services sites are confusing, not easy to
understand, full of jargon and seek to sell a plethora of
different products and services.
We are different.
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What
we do, we do well
If you have a policy to sell, you have
come to the right place.
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Why
use The Policy Warehouse?
• We partner with experts. Selling
an endowment policy inevitably involves legal work. This we
provide as part of our service
• We do not charge a fee for selling a policy
• We will seek to get the proceeds of the policy sale
into your bank account as soon as the legal work has
been completed
• Our team are on hand to guide you through the sale
process if you need them. AAP Phone number here
0208 732 5859
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Who
are the partners that you work with?
Our lead partner is AAP who were established
in 1968 and are the largest company specialising in the buying
and selling of Traded Endowment Policies (TEPs). They have
been involved in the purchase of over £1 billion worth
of policies.
Together we will speedily value your
endowment policy at no charge to you and if your policy is
suitable, will quickly make you a firm cash offer usually
within 24 hours if you have the policy information available.
AAP can often offer up to 35%
more for an endowment policy than the issuing life company,
however, the price offered will be affected by the length
of time the policy has been in force and the choice of life
company.
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What
is the procedure following an agreement to sell my policy
via The Policy Warehouse?
An offer letter is issued, which must be signed by you in
order that the transfer procedure can begin. AAP will then
ask you to complete a simple transfer form and supply them
with some simple additional information and documentation.
There are no costs or charges to you
and the transaction should be completed in approximately the
same time as it would take to surrender the policy.
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When
do I stop paying premiums on my Policy?
Normally you will be responsible for
paying premiums up to the next month after the agreement date,
but all this will be laid down in the offer letter sent to
you.
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What
happens to my life assurance?
If you still require the life assurance
that is a part of your endowment policy, you should take steps
to replace this as soon as possible.
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How
long should it take until I receive my cheque?
Approximately 21 working days. However,
this greatly depends on how quickly we receive all the relevant
paperwork from you and your life office so that we can make
all the appropriate checks and transfer title of the policy.
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What
do we need to value your policy?
• The name of the issuing life
assurance office
• Details of the life assured, and your policy number
• The current surrender value, and the date it was obtained
• The policy start date
• The policy’s maturity date
• The ‘With Profits’ sum assured
• The amount of premium, and its frequency e.g. monthly,
quarterly, semi-annual, annual
Any accrued bonuses paid so far and the
bonus declaration date
• Confirmation that the policy has not been amended
since it started or
if amended, full details
Most of this information can be found
in one of two places:
The original policy document –sometimes
called the policy schedule
A surrender quotation sent to you by your endowment policy
provider
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Why
do people sell their endowment policies?
The most common reasons for selling
an endowment policy are:
• To repay their mortgage/Refinance
• Fear that the endowment policy will not cover future
mortgage repayments
• Moving House
• Divorce
• Wish to raise capital early rather than waiting for
maturity
• Substantial debts or possible insolvency
• Redundancy
• Unable to maintain premium payments
• Raising finance for specific items or projects
• Life cover and savings superfluous to present requirements
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Welcome
to the Frequently Asked Questions section. 
