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Financial advisers
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Financial advisers are there to make money out of you. In theory the more money they make for you, the more they make out of it, fair enough.
However, its not really their money they are risking. So they take risks, if it works out that's great. If it doesn't the Adviser hasn't really lost what they haven't had... but the same is not true of you!
The only advice I can offer is be very very careful, do enough research to be your own adviser  |
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By (user no longer on site) OP
over a year ago
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"Financial advisers are there to make money out of you. In theory the more money they make for you, the more they make out of it, fair enough.
However, its not really their money they are risking. So they take risks, if it works out that's great. If it doesn't the Adviser hasn't really lost what they haven't had... but the same is not true of you!
The only advice I can offer is be very very careful, do enough research to be your own adviser "
I just want to know what the best time of year is to cash in or sell an insurance policy. |
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By *nnyMan
over a year ago
Glasgow |
"Financial advisers are there to make money out of you. In theory the more money they make for you, the more they make out of it, fair enough.
However, its not really their money they are risking. So they take risks, if it works out that's great. If it doesn't the Adviser hasn't really lost what they haven't had... but the same is not true of you!
The only advice I can offer is be very very careful, do enough research to be your own adviser
I just want to know what the best time of year is to cash in or sell an insurance policy."
There's general advice on such matters on sites like money saving expert etc. |
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By (user no longer on site) OP
over a year ago
|
"Financial advisers are there to make money out of you. In theory the more money they make for you, the more they make out of it, fair enough.
However, its not really their money they are risking. So they take risks, if it works out that's great. If it doesn't the Adviser hasn't really lost what they haven't had... but the same is not true of you!
The only advice I can offer is be very very careful, do enough research to be your own adviser
I just want to know what the best time of year is to cash in or sell an insurance policy.
There's general advice on such matters on sites like money saving expert etc. "
That's where I got the idea I may be better off selling it than cashing it in. |
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Well in the case ask the insurance company in writing. They do have a professional obligation to advise you in your best interest.
But don't take their word for it, get other opinions, as others suggested there are financial websites out there.
Good luck with it  |
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By *smCouple
over a year ago
Liskeard |
Most financial advisers will give you half an hour free, I visted 4 different ones. Went to the first with my all singing I want to do everything thing plan. Took his advice, changed my plan saw the next one and so on, last one said all good plans, where did you find all that, lol |
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"Financial advisers are there to make money out of you. In theory the more money they make for you, the more they make out of it, fair enough.
However, its not really their money they are risking. So they take risks, if it works out that's great. If it doesn't the Adviser hasn't really lost what they haven't had... but the same is not true of you!
The only advice I can offer is be very very careful, do enough research to be your own adviser "
That hasn't been true since RDR changes to IFA rules in Jan 2013. They can't receive commission from investments anymore, they have to charge the client for advice. As such all IFA's are now extremely risk averse with the advice they offer. |
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By (user no longer on site) OP
over a year ago
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"I was FSA regulated a good few years ago when i was in the insurance and mortgage trade. What I would do is visit your bank, they will have a finance advisor there who will give you free advice"
Yes I had thought of that  . |
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By (user no longer on site)
over a year ago
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"I was FSA regulated a good few years ago when i was in the insurance and mortgage trade. What I would do is visit your bank, they will have a finance advisor there who will give you free advice"
Financial Advice from a Bank?
Just as long as it's not RBS or LLOYDS...  |
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By (user no longer on site)
over a year ago
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"I was FSA regulated a good few years ago when i was in the insurance and mortgage trade. What I would do is visit your bank, they will have a finance advisor there who will give you free advice"
Don't banks only advise on their own products though? |
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By (user no longer on site)
over a year ago
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"I was FSA regulated a good few years ago when i was in the insurance and mortgage trade. What I would do is visit your bank, they will have a finance advisor there who will give you free advice
Don't banks only advise on their own products though?"
Sometimes yes but if you ask if they are independent when you ring to make an appointment they are obliged to tell you.
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By (user no longer on site)
over a year ago
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I assume it's some sort of endowment or possibly a unit linked whole of life policy?
Check the surrender value and then ask some of the firms that buy them for a value. See what's best.
Also look at whether it was missold....
Lastly. If near end of term it may be worth holding onto....
Just a few thoughts and should not be taken as advice....... |
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"I was FSA regulated a good few years ago when i was in the insurance and mortgage trade. What I would do is visit your bank, they will have a finance advisor there who will give you free advice"
Make sure they aren't tied into the bank ie can only sell bank products. Look for an independent advisor who can advise on all products available not just that particular bank x |
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By (user no longer on site) OP
over a year ago
|
"I assume it's some sort of endowment or possibly a unit linked whole of life policy?
Check the surrender value and then ask some of the firms that buy them for a value. See what's best.
Also look at whether it was missold....
Lastly. If near end of term it may be worth holding onto....
Just a few thoughts and should not be taken as advice......."
Before finding out the surrender value, I want to know seasonal trends eg it's favourable to sell in spring, whereas it's a buyers market near Christmas. That sort of thing. No term (just sell or die). |
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By *bi HaiveMan
over a year ago
Forum Mod Cheeseville, Somerset |
"I was FSA regulated a good few years ago when i was in the insurance and mortgage trade. What I would do is visit your bank, they will have a finance advisor there who will give you free advice
Make sure they aren't tied into the bank ie can only sell bank products. Look for an independent advisor who can advise on all products available not just that particular bank x"
Many banks don't offer financial advice anymore. (In terms of investments, pensions, protection.)
As mentioned earlier - due to the 2013 changes they'd have to chargd by the hour (as IFAs now do) rather than make income from commissions.
They may give basic info, designed to allow you to make your own decision - but not advice.
A |
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By (user no longer on site)
over a year ago
|
"I was FSA regulated a good few years ago when i was in the insurance and mortgage trade. What I would do is visit your bank, they will have a finance advisor there who will give you free advice
Make sure they aren't tied into the bank ie can only sell bank products. Look for an independent advisor who can advise on all products available not just that particular bank x"
If you were younger I'd spank your arse. |
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By *bi HaiveMan
over a year ago
Forum Mod Cheeseville, Somerset |
"Financial advisers are there to make money out of you. In theory the more money they make for you, the more they make out of it, fair enough.
However, its not really their money they are risking. So they take risks, if it works out that's great. If it doesn't the Adviser hasn't really lost what they haven't had... but the same is not true of you!
The only advice I can offer is be very very careful, do enough research to be your own adviser
I just want to know what the best time of year is to cash in or sell an insurance policy."
The majority of insurance policies these days have no surrender value. They're simply designed to pay out upon death.
If it's an old fashioned endownment there will be a cash in value - there's bugger all seasonal variation but the key thing to check is whether there are any end of term bonuses built in to the policy. If there are - cashing in early will reduce the value.
Best advice is call the company it's with. They'll know the answers.
A |
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By (user no longer on site) OP
over a year ago
|
"Financial advisers are there to make money out of you. In theory the more money they make for you, the more they make out of it, fair enough.
However, its not really their money they are risking. So they take risks, if it works out that's great. If it doesn't the Adviser hasn't really lost what they haven't had... but the same is not true of you!
The only advice I can offer is be very very careful, do enough research to be your own adviser
I just want to know what the best time of year is to cash in or sell an insurance policy.
The majority of insurance policies these days have no surrender value. They're simply designed to pay out upon death.
If it's an old fashioned endownment there will be a cash in value - there's bugger all seasonal variation but the key thing to check is whether there are any end of term bonuses built in to the policy. If there are - cashing in early will reduce the value.
Best advice is call the company it's with. They'll know the answers.
A"
It's a cash builder life insurance policy. All they will say is that the surrender value can go up or down ( reliant on the market).
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By (user no longer on site)
over a year ago
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Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs!  |
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By (user no longer on site) OP
over a year ago
|
"Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs! "
Errrrrm nope  . I'm probably asking the wrong people the right question. I don't mean forum users either lol. |
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By *bi HaiveMan
over a year ago
Forum Mod Cheeseville, Somerset |
"Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs!
Errrrrm nope . I'm probably asking the wrong people the right question. I don't mean forum users either lol."
Out of interest - it's not an Axa policy is it?
A |
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By (user no longer on site) OP
over a year ago
|
"Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs!
Errrrrm nope . I'm probably asking the wrong people the right question. I don't mean forum users either lol.
Out of interest - it's not an Axa policy is it?
A"
No, it was allied Dunbar, but now Zurich. |
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By *bi HaiveMan
over a year ago
Forum Mod Cheeseville, Somerset |
"Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs!
Errrrrm nope . I'm probably asking the wrong people the right question. I don't mean forum users either lol.
Out of interest - it's not an Axa policy is it?
A
No, it was allied Dunbar, but now Zurich."
Ok - it's just Axa got clobbered by the then FSA a few years back for an error in their advertising which helped if people were looking to surrender early.
A
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By (user no longer on site)
over a year ago
|
"Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs!
Errrrrm nope . I'm probably asking the wrong people the right question. I don't mean forum users either lol.
Out of interest - it's not an Axa policy is it?
A
No, it was allied Dunbar, but now Zurich."
Ah. If I remember rightly these were a type of endowment that were famously missold. The salesmen were called Allied Crowbar for their sales techniques!
To repeat earlier. There are no seasonal trends for selling endowments.
There must be a maturity date to it though?
|
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By (user no longer on site) OP
over a year ago
|
"Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs!
Errrrrm nope . I'm probably asking the wrong people the right question. I don't mean forum users either lol.
Out of interest - it's not an Axa policy is it?
A
No, it was allied Dunbar, but now Zurich.
Ah. If I remember rightly these were a type of endowment that were famously missold. The salesmen were called Allied Crowbar for their sales techniques!
To repeat earlier. There are no seasonal trends for selling endowments.
There must be a maturity date to it though?
"
As I've stated before, it's a life policy. It's not an endowment (they went to my ex on divorce). |
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By (user no longer on site)
over a year ago
|
"Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs!
Errrrrm nope . I'm probably asking the wrong people the right question. I don't mean forum users either lol.
Out of interest - it's not an Axa policy is it?
A
No, it was allied Dunbar, but now Zurich.
Ah. If I remember rightly these were a type of endowment that were famously missold. The salesmen were called Allied Crowbar for their sales techniques!
To repeat earlier. There are no seasonal trends for selling endowments.
There must be a maturity date to it though?
As I've stated before, it's a life policy. It's not an endowment (they went to my ex on divorce)."
Don't sell today would be my advice based on what is going on in the markets today! |
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By (user no longer on site) OP
over a year ago
|
"Just pay the damn money and see an advisor. The good ones are the fee based ones and my old boss would give you the first meeting for free (an hour if their time). Don't rely on forum users on a swinging website ffs!
Errrrrm nope . I'm probably asking the wrong people the right question. I don't mean forum users either lol.
Out of interest - it's not an Axa policy is it?
A
No, it was allied Dunbar, but now Zurich.
Ah. If I remember rightly these were a type of endowment that were famously missold. The salesmen were called Allied Crowbar for their sales techniques!
To repeat earlier. There are no seasonal trends for selling endowments.
There must be a maturity date to it though?
As I've stated before, it's a life policy. It's not an endowment (they went to my ex on divorce).
Don't sell today would be my advice based on what is going on in the markets today!"
I have time to play with it, ie until I have to sell (to avoid getting a student loan). |
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By (user no longer on site)
over a year ago
|
"I assume it's some sort of endowment or possibly a unit linked whole of life policy?
Check the surrender value and then ask some of the firms that buy them for a value. See what's best.
Also look at whether it was missold....
Lastly. If near end of term it may be worth holding onto....
Just a few thoughts and should not be taken as advice.......
Before finding out the surrender value, I want to know seasonal trends eg it's favourable to sell in spring, whereas it's a buyers market near Christmas. That sort of thing. No term (just sell or die)."
If it has no term then I wouldn't think it has a savings element and therefore is of no value. There are no seasonal trends as far as I am aware, just need to know how long to go and the bonuses to date etc... |
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By (user no longer on site) OP
over a year ago
|
"I assume it's some sort of endowment or possibly a unit linked whole of life policy?
Check the surrender value and then ask some of the firms that buy them for a value. See what's best.
Also look at whether it was missold....
Lastly. If near end of term it may be worth holding onto....
Just a few thoughts and should not be taken as advice.......
Before finding out the surrender value, I want to know seasonal trends eg it's favourable to sell in spring, whereas it's a buyers market near Christmas. That sort of thing. No term (just sell or die).
If it has no term then I wouldn't think it has a savings element and therefore is of no value. There are no seasonal trends as far as I am aware, just need to know how long to go and the bonuses to date etc..."
It does have a savings element. I'm aware they don't sell life policies like this anymore so it could actually make this more valuable. |
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