Common reasons for selling
Over the years, policyholders have been selling their insurance policies such as endowment, whole-life etc to us. Below are some of the common reasons we encounter from policyholders as one of the main consideration for them to think of discontinue their insurance policies.
Reaching “break-even” point where the cash value of the policy is equivalent or more than the total premium that has been paid into the policy. This usually happen for policies that was bought many years ago by the policyholder’s parents and ownership was being vested to them when they turned 21 years old.
Usually such policies had “break-even”, however the amount of premiums they are paying now does not justify for the benefits/coverage in current context. Thus, policyholder want to discontinue the policy than continue paying for the premiums. In this case, selling the policy to our company, REPs Holdings is an alternative as we will be able to pay a higher value than the Surrender Value.
Similarly, we encountered policyholders facing financial issues where they need cash to pay off debts, loans or even other heavy commitments that required to be settle as soon as possible. Rather than letting owing such debts and loan incurring high amount of interest over times, policyholders will instead liquidate their insurance policies either surrender the policy back to the insurance company or sell to our company, REPs Holdings as they will able to receive more from us.