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Policy Portfolio offers free Tep guide

Policy Portfolio is offering IFAs a free guide to cashing in end-owment policies to help clients who may have recently been made redundant.

The company says significant jobs cuts are raising questions about how to fund periods of unemployment.

It says many IFAs will have clients who have been compelled to liquidate some of their assets, in particular, with-profits endowment policies.

According to Policy Portfolio, thousands of policyholders cash in their policies for many reasons such as divorce and redundancy and that many lose out by not selling to a market-maker.

It says policyholders can expect to get on average 10 per cent more than the surrender value and sometimes up to 30 per cent more.

Managing director Brian Goldstein says: “It has become very apparent that security of employment is now a thing of the past. IFAs can help ensure that if a client is made redundant and they need the cash, they can get the best price for their policy. IFAs are missing out on an opportunity to give much needed extra money for those who have to cash in their endowment.”

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