For policyholders who are considering giving up their endowment policies, they may believe that the only way forward is to surrender back to the insurance company. Many of them are not made aware that they have the option to assign, transfer the policy ownership and sell for more than the surrender value. Assignment of policy is already part of the policy options as stated in the policy document,
just like the policyholder can take up policy loan, surrender, choose payment method, assign etc. The transfer is done, registered, endorsed by the respective insurance company. Just like transferring of HDB flats, the seller and the buyer go to HDB to do the transfer. Policyholders would obtain higher value by selling to us than surrender to the insurance company. We would then continue the remaining term to maturity or may reassign.
