Selling my endowment plan: what are some unforseen disadvantages for me (original policy holder)?

I’m considering to surrender my endowment plan but just learnt that there are third party companies who could buy over the endowment plan. I understand that I would sign a deed of assignment over to the company and they get all the benefits and liabilities of the policy.

I have one question about the death benefits. I’m worried that on my death, the buyer (third party company) will harass my family with regards to my death for claims. Is this a legitimate concern?

Other than losing the intended protection/benefits/bonuses from the policy, what are other disadvantages for a person selling their own endowment policy?

submitted by /u/afraidofyall
[link] [comments]

Powered by WPeMatico