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early surrender of a life insurance policy?

liverpool victoria life insurance has quoted me a price on the early surrender of a life insurance that i started in 1986 paying £4.50p a month the original policy for £3.500 payout plus any added bonus quoted today as £7.000p inc bonuses payout i f surrendered because im alive no more but quoted as £1.630p if i surrender the policy today while im still alive,is that about right or should it be more than that many thanks in advance

Public Comments

1. I have no idea, but if it has a surrender value then there are companies that will buy the policy off you and continue the premiums so they can get the full amount at end of term. Worth getting quotes from one or two of those companies. Never used one of these companies so can't recommend, but here's one. http://www.aap.co.uk/endowment-selling-specialists.aspx?bs=WbGoog&gclid=CNzAvrCAto8CFQscQgodf2Tncg
2. try www.surrendalink.co.uk, www.aap.co.uk, or www.bestpriceendowment.com and sell the policy rather than surrender it to the life co.
3. If you really must cash this in---- THINK TWICE ABOUT THIS----Then: Look in papers like the Dail Mail to get quotes from independent companies-- they usually offer more money than the insurance companies do. GET SEVERAL QUOTES.
4. It is hard to tell because an element of your premium is going towards paying for life insurance and an element of it is paying for "investment". Surrender values tend to be pretty low. Is this an endowment (i.e. does it have a fixed end date) or is it a whole of life insureance? As well as the 2nd hand market that has been mentioned, you might also be able to get a loan against the policy. This might be better than cashing it in or trading it. You shoudl ask LV if they provide that facility.