Selling Scottish Amicable Endowments
Scottish Amicable With Profits Endowments
If your endowment policy with Scottish Amicable 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
Scottish Amicable policies are now managed by the Prudential. On
their website it says " ...........all with-profits policies issued
in the UK by companies in or acquired by the Prudential group i.e.
by Prudential Assurance Company Limited (PAC), Scottish Amicable
Life plc, Scottish Amicable Life Assurance Society,
Prudential (AN) Limited and Prudential International Assurance plc.
It also covers the with-profits annuity policies transferred from
the Equitable Life Assurance Society to PAC.
Prudential Assurance Company acquired the business of Scottish
Amicable Life Assurance Society in 1997. As a consequence, the
company created the closed Scottish Amicable Insurance fund and the
Scottish Amicable Account.
Scottish Amicable Endowment Policies That Sell
In order to stand the best possible chance of selling your
Scottish Amicable endowment please take not of the points below:
- Your Scottish Amicable endowment policy should be at least 5 years old.
- The Scottish Amicable 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 Scottish Amicable 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