Selling your endowment policy is a big step - something that you shouldn't rush into without a thorough financial analysis of the pros and cons of selling. Once your policy is gone - its gone - your capital gains or losses are crystallized - you can't change your mind with this type of thing. In order to avoid living to regret the day you decided to sell your endowment policy - you should have written down exactly why you decided to sell and what assumptions you made that led you to that decision. You can't control the future and you certainly can't control what happens to the stock market, inflation, interest rates and other key financial indicators. All you can do is assume that everything will change and take the informed decision of the moment.
So lets look at the essential steps in the decision making process:
So lets look at the essential steps in the decision making process:
- why do you want to sell you endowment policy?
- what will selling cost you?
- what are your alternatives?
- which is the best decision.
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