Selling your Insurance Policy
Want to terminate your life insurance policy in Singapore? Here’s what you can do:
There are several reasons why people will want to terminate their insurance policies.
The common reasons are,
- have not been paying premiums and cash value depleting
- cashing in for better investments
- heavy commitment
- paying off debts
- in need of cash
- policy restructuring
- do not wish to pay any policy loan
- splitting of assets
- reaching “break-even” point (cash value = premiums paid)
If you are considering to terminate or giving up your insurance policy, do you know that the policy ownership is transferable?
In the same way that you do not need to sell your flat back to HDB or your car back to the manufacturer, you have other options besides surrendering your insurance policies, like endowment savings policy back to the insurance company or letting it lapse.
Your insurance policies, like endowment or whole life policies can be transferred and sold.
By selling, you will be able to obtain more money back compared to surrendering to the insurance company.
After selling the policy, your obligations to the policy ends here.
Get a free valuation of your insurance policies by submitting your policy details here:
And our team will get back to you within 2 working days’ time.
An illustration between client surrendering back to insurer and selling it to REPs
Ben started a 20 years endowment policy, at the end of 8th year, Ben is unable to continue paying for the premium of his endowment policy. Ben has decided to give up his policy, looking at the options he have, there are only two options.
Surrender OR SELL TO REPS
WHY SELL TO REPS?
– Higher value than Surrender Value by Insurance Company
– Hassle Free Transaction
– Cash on the Spot
– Takes about 20 minutes for the whole process to be done
How it works?
Find out how much you can
cash out your policy today,
Some articles on Resale Endowment Policies,
Article 1: Market for Resale Endowment Policies Emerging on The Business Times, 13 April 2013
Article 3: 人寿与储蓄保单-可转售 – 2016年6月5日 星期日 – 联合早报