Selling Scottish Equitable Endowments
Scottish Equitable With Profits Endowments
If your endowment policy with Scottish Equitable 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 company began in 1832 as the Scottish Equitable Life
Assurance Society in Edinburgh. In 1994, the company became Scottish
Equitable plc and was purchased by Aegon. It was rebranded as Aegon
Scottish Equitable in 2006, and in 2010 became known as Aegon,
though its legal entity is still Scottish Equitable plc.
The BBC news reported in December 2010 that "Thousands of customers
of Scottish Equitable will receive a share of £60m following an
investigation into procedures at the pensions provider.
The company was also fined £2.8m by the Financial Services Authority
(FSA) for the problems it caused for customers."
Scottish Equitable Endowment Policies That Sell
In order to stand the best possible chance of selling your
Scottish Equitable endowment please take not of the points below:
- Your Scottish Equitable endowment policy should be at least 5 years old.
- The Scottish Equitable 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 Equitable 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