Second-hand policy can be first-rate buy
Article Abstract:
Second-hand endowment policies offer a number of advantages for UK investors. Their bonus entitlements are guaranteed and policyholders have born the initial costs. Costs are fixed and the duration is set. There are also tax advantages which vary according to whether the policy is qualifying or non qualifying. Qualifying policies are only affected by capital gains tax but the income tax treatment for non-qualifying policies is lenient. These products have a number of uses such as savings for retirement.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Traded endowment policies: selling on beats surrendering
Article Abstract:
Holders of UK endowment policies may seek to sell them due to the need to raise cash after divorce, redundancy or to fund a business. They face penalties if the policies are prematurely surrendered so can obtain more by selling them. Policies that have been operational for a minumum of six years, are with-profits and worth at least 2,000 pounds sterling for their surrender value are marketable. Policies from companies that could demutualise are also seen as attractive.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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A matter of life and death - and money: second-hand endowment policies have become anestablished fixture in the world of personal finance. This trade bring benefits for sellers andbuyers and the issuing life offices like it too
Article Abstract:
Insurance companiesusually discourage policyholders from surrendering their policies, but endowment policies can beauctioned off to third parties. The market is estimated at 100 milllion-130 million poundssterling, with the average policy netting about 8,000 pounds sterling. The market in viaticalcontracts, where terminally-ill policyholders raise cash by selling policies, is big business in theUS, but is only a small specialised area in the UK.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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