How do I tell if my endowment is "with profits"?

Hi isaxby and welcome to the forum.

A With Profits Endowment Assurance will be clearly labelled a such and you certainly would have been sent annual 'profit' statements showing the reversionary bonuses ( i.e. profits ) for that year. The policy will also state the 'basic sum assured' on which figure the annual bonuses are based on.

The other type of endowment assurance is a 'unit linked' contract where you will have a 'guaranteed death benefit' ( to make it a qualifying policy ) and and a specified number of units in the investment vehicle of your choice. Each year you should receive a statement of the number of units in the plan and their current value.

Alas, only a 'With Profits' endowment policy is the only type of endowment that can be sold as they are a more attractive investment purchase due to their reversionary bonuses being permanent and the addition of a terminal bonus on maturity that 'buffers' the final value.

Remember even with profits policies still have to adhere to certain criteria to be sellable so perhaps you may be best taking the policy documents to an independent financial advisor for opinion as you are unsure.

The following website is very useful:-
http://endowments.themovechannel.com/guides/with_profit2.asp
It breaks the policy and it's elements down to a very easy and understanding manner.