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Personal finance site, This is Money has joined forces with aap, the UK’s largest endowment policy buyer to offer an exclusive endowment service to visitors to the site. A dedicated endowment section has been created, which is sponsored by aap and contains information that informs visitors of all the options available to them should they want to dispense with their endowment policy.

By 1993 endowments had become so popular that 64% of all mortgage holders had taken one out. However according to a new Money Management survey, over a period of 25 years the average policy has only achieved an 8% return, compared with a return of 9.6% from the UK All Companies sector, and around eight in 10 endowment policies are unlikely to pay off the full mortgage they were taken out to cover. With approximately eight million mortgage endowment policies in the UK, that equates to around 6.4 million policies falling short*. All of this has resulted in many people deciding to surrender their endowment back to the life company, instead of looking at selling it instead for more money.

Andy Mossack, marketing director, aap explained: “Many people are unaware of the alternative options to surrendering their endowment, including selling it through a market maker like aap who specialises in buying endowment policies and selling them on to institutional investors. If we make an offer to buy the endowment it will always be more than the surrender value - sometimes up to 35% more, and we offer customers a free valuation of their policy. Life Companies are now obligated to let their customers know that selling it on is an alternative to surrender and should be investigated.”

The partnership with This is Money is designed to raise awareness of the options to those people wanting to cash in their endowment, and endowment policy shortfall is not the only catalyst. aap’s recent study revealed that the top five reasons behind why people do not hold onto their policy until maturity are:

1. Re-structuring finances or mortgages
2. Concern about value not covering future mortgage payments
3. Moving house
4. The endowment policy is part of a divorce settlement
5. Cash worries.

Chris Gill, marketing manager, This is Money commented: “Circumstances change, and people should be made aware of all the options open to them, which at the moment simply isn’t happening. aap’s service fits perfectly with what This is Money is all about - providing people with the information that enables them to make informed decisions and ultimately make the most of their money.”

This is Money users will be able to access aap’s valuation form directly through the site and aap will also be the first port of call for editorial comment, as well as being This is Money’s ‘agony aunt’ for readers’ endowment related questions.

Mossack explained: “We chose to partner with This is Money because the audience profile and site content fits so well. Very few finance sites focus on objectively supplying information on personal money, and we feel that This is Money offers the ideal environment to communicate with aap’s key target audience.”

Gill concluded: “We are hoping that this will be the start of a very long relationship with aap. We are always looking for reputable organisations that can help our visitors to better manage their finances, and would encourage other financial services providers to explore similar opportunities that the This is Money site can offer.”


Notes to editors:

* Source: ABI September 2006

About This is Money

Launched in 1999, This is Money is the leading financial website focused on providing the best information and end-to-end journeys for UK consumers. Written in jargon-free language, This is Money is accredited by the Plain English campaign. This is Money is published by Associated Northcliffe Digital (AND), a division of Associated Newspapers. AND publishes other award-winning websites including the Mailonline, This is London, This is Travel, Metro, Find a Property and Prime Location.

About aap

aap was established in 1968 and is the UK’s largest specialist in the buying and selling of endowment policies. The Company has been involved in the purchase of over 1 billion of with-profit endowments. aap is authorised and regulated by the FSA and is a member of the Association of Policy Market Makers (APMM). To learn more about aap go to:

For further information, please contact:

Andy Mossack
Tel: 020 8282 8072

This press release was distributed by ResponseSource Press Release Wire on behalf of MediaCo (UK) Ltd in the following categories: Personal Finance, Business & Finance, for more information visit