Selling Your Policy

Sell Insurance Policy For Highest Cash How To Sell Your Policy Common Reasons For Selling Policy What is Absolute Assignment?

Are you in need of cash now? As one of the Policyholders Selling Policy, You can sell your insurance policy to us for immediate cash today!

Policyholders Selling Policy

Terminating your policy early usually means getting a surrender value lesser than the total premiums already paid. But wait!

Just like selling cars or HDB flats, the ownership can be legally transferred. This transfer of policy ownership will be done at the respective Insurers’ Customer Service Centre where the insurance company will register and process the Assignment.

Selling your policy puts you at an advantage as you do not have to:

Take up a bank/policy loan with interests

Receiving cash from bank or policy loan

Lapse or surrender the policy

Lapse or Termination or Surrendering of insurance policy

Incur huge losses

Money Dollars Towered In Losses Declining Graph and Arrow

If you wish to surrender your insurance policy, why not transfer the ownership to another entity and get more cash back immediately with ease of convenience.

Signing for transfer of insurance policy owner for cash

Step 1

Go through the checklist below
against your policy.

An insurance policy eligibility checklist for selling to REPs Holdings

Whole-Life
Endowment Savings Plan
(Usually has a fixed tenure
e.g. 10, 15, 20, or 25 years
and known maturity date)
Retirement Plan
Education Plan
Premium is paid in cash
(Not applicable for CPF
or SRS policies)
Policy is locally issued by
insurance companies
in Singapore
A policy that has lapsed or
is on Policy Loan is eligible
as well

Step 2

Furnish the below policy
information during the call.

Guy calling on mobile phone to ask for non-obligatory quote for selling his insurance policy to REPs Holdings

Call in to REPs Holdings at
+65 6221 4771 for a
non-obligatory quotation on
your policy and provide us
with the following details:

Name of Policy & Insurer Company
Date of inception
Any existing outstanding loans
Latest copy of Benefit Illustrations

Step 3

Verdict and quotation presented
for decision making.

Man holding a calculator showing another the quote for selling his insurance policy to REPs Holdings

Once the verdict has been
evaluated, a representative will
contact you to inform if
REPs Holdings is able to buy in
your policy. From thereon, it will
be your decision whether to
proceed with the presented
quotation.

Step 4

Book an appointment for
the absolute assignment process.

Policyholder or policy owner taking pen to sign on form for insurance policy transfer and getting cash money

Upon the decision to proceed,
you can book an appointment
to meet our representative
at the Insurer’s service centre.
The whole absolute assignment
process will only take 20 minutes
Thereafter, an immediate
payment will be given to you
via cheque.

Submit Your Policy Details Now!

Common Reasons Why Policyholders Sell Their Policies

Table of insurance policies surrender claims from 2016 to 2020

Table create by REPs Holdings with
source derived from * MAS

There are many reasons to surrender your policies. Based on statistics from MAS in the last 5 years* since 2016, there has been an average increase of 12% in value for those who surrendered their policies. Instead of surrendering for your endowment/whole life insurance policies at the surrender value, join our pool of policyholders who have been selling to us for the highest, fastest and instant cash payout.

Among the many reasons, the following are the most common ones:

Facing Financial Issues (Debts, loans, heavy commitments)

Bills and Debts Picture Indicating Financial Issue

Financial issues are one of the most common reasons policyholders will sell their policies over to REPs Holdings. The fact that they will receive cash immediately from us, policyholders rather choose to liquidate their policies to us which is required to pay off their debts, loans, or any other heavy commitments to prevent incurring a higher amount of interest over time.

Reaching Policy’s Break-even Point

Similarly, another reason would be reaching a “break-even” point for the policy, where the cash value is equivalent to or more than the total premiums that have been paid. This usually happens for policies that were bought many years ago by the policyholder’s parents and ownership was being vested to the policyholder when he or she turned 21 years old.

The amount of premiums the policyholder is paying now does not justify the benefits/coverage, thus, the policyholder chose to discontinue the policy by selling it to REPs Holdings as an alternative since we will be able to pay a higher value than the Surrender Value.

Break even point Analysis Scale of Insurance Policy Hand Drawn

Restructuring of Portfolio

By going through portfolio review, policyholders may feel that certain old policies does not fit into their current needs and would rather give up these plans to fund for better investment opportunities. This is actually a better way to utilize their cash value and future premiums to achieve the financial goals set thereafter.

Migrating

Policyholders that intend to migrate or have already migrated to other countries face the problem of monitoring their policies in Singapore since it’s crucial as their cash value is subjected to currency risk. So, they will opt for a more fuss free solution to sell-off their plans and provide a peace of mind from all these issues.

Splitting of Assets

When a family member passes on or a divorce proceeding happens, splitting of assets occur. If pre-planning is not done right, family arguments and tensions will be at an all-time high. For leftover policies, the rights to the policy cannot be divided. Therefore, the best option will be to liquidate the policy and split the cash value proceeds evenly amongst family members.

Absolute Assignment explanation illustration

What is Absolute Assignment?

An Absolute Assignment is the assigning of a policy to transfer the ownership rights from the Assured (Assignor) to another person or institution (Assignee). You can transfer the rights on your life insurance policy to another person or institution for various reasons. This process is known as Assignment and is governed under Policies of Assurance Act (Chapter 392).

What Kind of Insurance Policies Are Assignable?

Endowment Policies and Whole Life Assurance Policies are assignable. Other types of insurance policies are generally non-assignable.

FAQs

Is REPs Holdings an insurance company or FA firm?

No, REPs Holdings is a fully independent service provider, or what the industry would call a third-party vendor/broker who specializes in buying in acquisition and distribution of Resale Endowment savings Policies since 2010.

Is buying and selling of endowment policies legal?

Yes, it is legal even though not regulated by MAS. A policy owner is allowed to transfer the ownership of the policy via what is known as an “absolute assignment.” The new policy owner will own the rights, benefits, and obligations of the policy thereafter.

What types of policies does REPs Holdings buy in?

REPs Holdings currently only takes in endowment and whole life policies, issued by insurance companies in Singapore.

Why is REPs Holdings buying over my policy?

Instead of having these policies terminated upon premature surrendering, REPs Holdings will take over and continue with the remaining term until maturity.

Why is it that REPs Holdings can pay higher than the Insurer’s surrender value?

REPs Holdings does not need to incur any costs relating to processing the surrendering and termination of policies.

How can I sell my policies?

You may call REPs Holdings at 6221 4771 or fill up our evaluation form here and a representative will be arranged to get in touch with you within 48 hours.

How is the process like and the duration taken for selling my insurance policy?

The representative of REPs Holdings will evaluate the suitability of taking in your policies before a quote will be given. Once the client is agreeable to the given quote, a meet-up will be arranged to sign the relevant documents, in which the payment will be issued immediately thereafter.

How will my payment for selling my policy be?

A Cash cheque will be given to you on the spot once you have signed the documents.

What about future premiums after selling my policy to REPs?

Your liability to the policy will end on the date of transfer. Future premiums and any outstanding dues will be borne by REPs Holdings.

What if the life assured of the insurance policy passes away?

After a policy is transferred, REPs Holdings do not keep in touch with the life assured since the expectation is to service the endowment policy till maturity. In the event of an unforeseen circumstance that the life assured’s vital status is made known to the new policy owner, he/she may contact the insurance company for the maturity amount at an earlier date.

What if my insurance policy has an outstanding loans or has already lapsed?

Subjected to the various policies’ criteria, we may still be able to take in your plans. Subject to policy details and insurance company, your policy might be able to be reinstated after lapsed of up to 2 years. The policyholder will have to contact their respective insurance company on the reinstatement period.

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REPs Holdings (REPs Holdings Pte Ltd) is not licensed, approved, registered, or otherwise regulated by the Monetary Authority of Singapore or any other applicable regulator in Singapore or otherwise in respect of any of its activities, nor does it hold itself out as being so licensed, approved, registered or otherwise regulated. REPs Holdings does not hold itself out to be carrying on any activities which would require them to be so licensed, approved, registered, or otherwise regulated (including but not limited to regulated activities under the Securities and Futures Act (Cap.289) and financial advisory services under the Financial Advisors Act (Cap.110) of Singapore).