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Know someone who wants to sell their insurance policy for cash?

Obtain a free policy valuation

We are always happy to provide a policy valuation completely free of charge. Our team will work to get the best possible value for the policy, so that the policyholder can walk away feeling confident that they made the right decision.

Assignment of policy

Once we have agreed upon an offer, the next step is to complete the paperwork at the insurer’s customer service office. You will be paid for your assignment once all the paperwork has been completed.

Instant reward upon successful referral

When you successfully complete a policy transfer to InsuranceJobs, you will be instantly rewarded with a referral fee once all the paperwork has been completed.

Looking to sell or surrender your endowment policy?

When you no longer need or can afford your endowment insurance policy, you have two options: surrender or sell it. Both options involve terminating the policy, but they have different implications to you.

Surrendering your insurance policy means terminating the policy and receiving the surrender value from the insurance company. The surrender value is the amount you will receive if you terminate your policy before the maturity date. It is calculated based on the premiums you have paid and the investment returns earned by the insurer. When you surrender your policy, you will no longer be entitled to the insurance coverage or any future payouts.

Selling your insurance policy means transferring ownership of the policy to a third party buyer. The buyer will pay you a lump sum, which is typically higher than the surrender value but lower than the death benefit. The buyer will then become the owner of the policy and will be entitled to the insurance coverage and any future payouts. This option is also known as a life settlement.

There are pros and cons to both options. Here are some factors to consider:

Surrendering your endowment policy to your insurer

Pros of surrendering your endowment insurance policy

  1. You will receive the surrender value, which is guaranteed by the insurance company.
  2. The process is straightforward and doesn’t involve finding a buyer.
  3. You can use the surrender value for any purpose, such as paying off debts or investing in other assets.

Cons of surrendering your endowment insurance policy

  1. You may incur a loss if the surrender value is lower than the premiums you have paid.
  2. You will lose the insurance coverage and any future payouts.

Selling your endowment policy to a third party

Pros of selling your endowment insurance policy

  1. You can receive a higher payout than the surrender value.
  2. You can use the lump sum for any purpose, such as paying off debts or investing in other assets.
  3. You can continue to benefit from the insurance coverage if you sell a portion of the policy.

Cons of selling your endowment insurance policy

  1. The process can be complex and involve finding a reputable buyer.
  2. The payout may be subject to taxes and fees.
  3. You will lose the insurance coverage and any future payouts if you sell the entire policy.

Here are some key things to consider when selling or surrendering your endowment policy

  1. Understand your endowment plan: Before you decide to sell your endowment plan, make sure you understand the terms and conditions of your policy, including the maturity date, surrender value, and any penalties for early termination.
  2. Determine the surrender value: The surrender value is the amount you will receive if you terminate your policy before the maturity date. You can contact your insurer to obtain this information.
  3. Consider the potential loss: If you sell your endowment plan before maturity, you may receive less than what you paid in premiums. This means you will incur a loss. You should consider whether this loss is worth it, especially if you have already paid a significant amount of premiums.
  4. Look for a buyer: If you decide to sell your endowment plan, you will need to find a buyer. There are companies in Singapore that specialize in buying endowment plans, so you can search online or ask for recommendations.
  5. Compare offers: When you receive offers from potential buyers, make sure to compare them carefully. Consider the price they are offering, any fees or charges involved, and their reputation in the market.
  6. Seek professional advice: Selling an endowment plan can be a complex process, so it’s a good idea to seek professional advice from a financial advisor or a lawyer who specializes in this area.

Before you sell your endowment policy

Endowment policies are long-term savings plans that are designed to help individuals save money and build wealth over a period of time. These policies typically run for 10 to 25 years, and the proceeds are paid out at the end of the policy term or on the death of the policyholder.

If you are considering selling your endowment policy, here are some reasons why you should think twice before doing so:

  1. Financial loss: If you sell your endowment policy before the end of the term, you may receive less than the full value of the policy. This is because the value of the policy is based on the projected value of the investments made by the policy provider over the policy term. If you sell the policy before the end of the term, the policy provider may not have had sufficient time to realize the full value of the investments, resulting in a lower payout for you.

  2. Loss of guaranteed income: Endowment policies typically come with a guaranteed payout at the end of the term. If you sell your policy, you lose this guarantee, and you may have to find alternative ways to secure your financial future.

  3. Limited options for reinvestment: If you sell your endowment policy, you may have limited options for reinvesting the proceeds. This is because the sale price may be lower than the projected payout at the end of the term, and you may not be able to find an investment that offers similar returns.

In summary, selling an endowment policy in Singapore is possible, but it’s important to understand the process and potential implications before making a decision. You should carefully consider the surrender value, potential loss, and seek professional advice before deciding whether to sell your policy.

    Looking to sell your policy?

    If you, or anyone you know, is interested in surrendering their life insurance policy, please let us know. We can offer a more profitable solution than the insurer would provide. Once the policy is transferred to us, you will receive a referral fee from us.





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