How do I surrender my policy?

The first thing to do is call us for a valuation if you haven't done so. Calling us will give you the opportunity to discuss your reasons for surrendering your policy, and whether there may be alternatives available to you.

If you decide to go ahead, we'll send you a pack, which will outline what you need to do and include the relevant form(s) you'll need to go-ahead.


We recognise that surrendering a policy isn’t an easy decision to make, particularly if you have extra benefits and guarantees. Look out for any extra charges too for surrendering your policy before the end date.

But before you make a final decision, take a look at our guide to help you weigh up the pros and cons of surrendering your policy, including some alternative options to consider.

Cwa Guide Design Option Policy Surrender

Helping you weigh up the pros and cons.


If your policy is what’s known as ‘qualifying’, any change may lead to it becoming a ‘non-qualifying’ one. In short, it could mean paying more tax on the money paid out to you or loved ones on, or before, your policy’s maturity date.

Potential alternatives to surrendering

There may be alternatives to surrendering your policy depending on the type of policy you have with us.

  • Take a payment holiday
  • Withdraw part of your policy fund value
  • Sell your policy
  • Switch your investment funds
  • Reduce your monthly payments
  • Stop paying into your policy.

Your current policy drives which of these options, if any, will be available to you. So call us to help you find an outcome that works for you.

To find out more, see our guide, Your policy surrender explained or call us.

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