Selling Norwich Union Endowments
Norwich Union With Profits Endowments
If your endowment policy with Norwich Union is not
performing to expectations and are considering
surrendering the policy and cashing it in, then you might want to
consider selling it instead.
Read what the UK Government have to say about selling endowments
below on the right.
The Norwich Union Life Insurance Company was established in 1808
as a mutual life insurer. The company was originally known as the
Norwich Union Society (or Union Office) for Insurances on Lives and
Survivorships. It was incorporated on May 10 1893 when it changed
its name to the Norwich Union Life Insurance Society.
On June 16 1997, the company was renamed the Norwich Union Life
Insurance Company Ltd. On 21 February 2000, Norwich Union plc, the
holding company, announced that it was merging with CGU plc to form
CGNU plc, which was rebranded as Aviva plc in July 2002. Norwich
Union Life was registered as dormant on December 23 2003
Norwich Union Endowment Policies That Sell
In order to stand the best possible chance of selling your
Norwich Union endowment please take not of the points below:
- Your Norwich Union endowment policy should be at least 5 years old.
- The Norwich Union endowment must be 100% "With Profits" - unitised
and unit linked policies are not saleable.
- The latest up-to-date surrender value must be at least £3000
- All the required information on the endowment selling form
has been supplied by you.
Click the banner above to sell Norwich Union endowment
Extracts From Government Publications
CP 106 "The Personal Investment Authority (PIA) issue
guidance (Regulatory Update 85) in March 2001, asking provider firms
to take steps to ensure that policyholders who were considering the
surrender of a life policy were informed that they might be able to
trade their policy instead."
COB 6.5.50R(5) "requires a firm to ensure that the
policyholder is made aware of the existence of the secondary market
and how he might access it."
"If you have a with-profits endowment policy, you may be able to
sell it on the second-hand endowment market.
If you’ve been paying in for at least seven years, you’ll probably
earn more if you sell a with-profits policy rather than cashing it