When trying to make their investments attractive, many insurance companies offer people a guarantee of no penalties for cashing in their investments on a certain date.
Most companies have offered a penalty free surrender at the 10-year mark and this is approaching for many policyholders. One such company offering the guarantee is Royal & Sun Alliance. Last year they saw around half of policyholders at the 10-year guarantee stage cash in their investments. They are not speculating what the figures will be this year.
Tip:
If you have an investment with a 10-year no penalty withdrawal facility take independent financial advice on your options. Contact us for help.
With some penalties for cashing in topping 30% at the moment and no insight into when the markets might recover, you could be in a privileged position.