Standard Life strife

By THIS IS MONEY
Updated:

 

I was about to sell my Standard Life endowment (with profits) policy as I no longer need it for my mortgage. Is it worth holding off until the result of the mutuality vote? KS, London

Kim North, independent financial adviser with Pretty Financial, says: Don't sell! Certainly not until the result of the mutuality vote is known, because you may get a windfall. What is more, you generally get poor value if you surrender endowments before they come to the end of their term. If you must sell do not surrender the policy to the company. Consider selling it instead - these policies are very desirable at present as people wish to buy them in order to cash in on any windfalls that Standard Life may pay. If you want to sell get details from the Association of Policy Market Makers (APMM) on 0207 739 3949.

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