If you are thinking of cashing in your endowment policy you might receive a better offer by trading it on the TEPS market.

A traded endowment policy (TEP) is a with profits endowment policy that the policy holder has been sold by absolute assignment of all future benefits .

For a variety of reasons many policy holders cash in their endowments early having decided they no longer need the cover or the investment has not performed to expectation. Due to the long term and inflexible nature of this type of policy they find themselves with a policy which they no longer require. Selling it back too the life company is one option but by trading it on the teps market, you could receive a far better offer for it.

Your policy must be a with profits policy it will need to have been in force for a least 5 years, you will also need:

• The name of the life company
•   Name of the life assured (you)
•   Start and maturity dates
•   Basic sum assured
•   Gross regular premiums
•   Recent surrender quote
•   Amount of bonus attached to the policy to date