Step 1: Choose a policy
Have you seen our policies in our PolicyMax list? Choose your desired policy to enhance your portfolio.
Or get in touch with our representative for best policy.
Step 2: Absolute Assignment
All policies will be done through absolute assignment from respective insurers.
The whole process can be done within the day itself.
Step 3: An official statement
Receive an official statement from insurer.
Become the new owner of the policies.
Shorter Time to Maturity
With Traded Endowment Policy as short as 3 to 10 years. You can expect your maturity sum earlier than first-hand endowment.
Ease of Cash flow Planning
Projection of premiums and maturity payout are known and fixed on certain dates.
High Level of Compliance
All our endowments are MAS licensed insurers and governed by strict regulations by the authority. They are also covered under policy owners’ protection scheme by SDIC.
Exemption From Tax
Proceeds from insurance are not considered as income and free from tax.
Hassle-Free Application
Traded Endowment Policies (TEPs) are open for everyone regardless of nationality, health status, age (at least 21 years old), and income earning. As of now, no health checking or fact-finding are required.
No Hidden Charges
As a new Policy Holder, you only pay for the initial sum and the premiums incurred every year. No hidden charges or additional fees.
Traded endowment policies are also known as second hand endowments that procured from the original policy owner. PolicyMax makes these endowment policies available for take over by sophisticated buyers.
An Absolute Assignment is a legal transfer of the ownership (all rights, benefits and liabilities) of a policy completely from the existing policyholder (Assignor) to the new policyholder (Assignee) without any terms and conditions.
The policy will be treated as one of your assets, similar to other investments, property, or money in bank accounts that you may own. Upon your demise, the policy may be assigned, surrendered or sold to another party by the executor of your estate.
The insurance company will require that any nomination or beneficiary be removed prior to an assignment. The policy you take over will be free from any nomination or beneficiary.