Selling Phoenix Life Endowments
Phoenix Life With Profits Endowments
If your endowment policy with Phoenix Life 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 Phoenix Group (formerly Pearl Group) is one of the largest
providers of insurance services in the United Kingdom and is listed
on the London Stock Exchange.
The Phoenix group is split into two sections Life assurance and
Phoenix Life comprises four regulated life companies:
Phoenix Life Limited; Phoenix Life Assurance Ltd. (prior to 28
September 2012, known as Pearl Assurance Limited) Phoenix Ireland -
Phoenix Life Limited (Irish branch)
NPI - National Provident Life Limited
Scottish Mutual International Limited (Republic of Ireland)
Ignis Asset Management (formerly Resolution Asset Management)
Endowment policies from a number of different companies are now
under the Phoenix Life banner and include:
NPI and National Provident Life
Royal & Sun Alliance
Swiss Life (UK)
Phoenix Life Endowment Policies That Sell
In order to stand the best possible chance of selling your
Phoenix Life endowment please take not of the points below:
- Your Phoenix Life endowment policy should be at least 5 years old.
- The Phoenix Life 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 Phoenix Life 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