Written by Purvis and Dreamer
The following articles narrate various short stories about how Singaporeans turn to Traded Endowment & Life Policies (TEPs & TLPs) companies to obtain higher encashment values over the surrender values, of the policies they have intended to surrender, to meet life’s financial challenges.
While we’ve tried to be accurate, it is important to note that everyone’s situation is different and unique.
These articles serve to provide general information only. It is important to seek professional advice before deciding to surrender or sell your insurance policies.
- Retirement Dreams Realized
- Education Fund Boost
- Business Expansion
- Debt Relief
- Starting a New Chapter
Retirement Dreams Realized
Nearing retirement, Mr Tan wanted to renovate his house to make it more old-age-friendly and fulfil his promise to his wife to travel around the world. Now that Mr Tan’s children are financially independent – having graduated and started working, he decided to sell one of his life policies to a TEPs/TLPs company, receiving a higher encashment value than the surrender value from the insurer. He is elated as the higher encashment value helped him finance the cost of renovating his house as well as fulfilling his promise to his wife.
Education Fund Boost
Grace, a single mother, needed to fund her daughter’s overseas university education. Instead of surrendering her endowment policy, she sold it to a Traded Endowment Policies (TEPs) company for a higher value than the surrender value of the policy. With the higher encashment values, the university tuition fees were not only adequately funded, but her daughter’s overseas living expenses were also provided for.
Business Expansion
Ahmed, an aspiring entrepreneur, had a brilliant business idea but lacked capital. He sold his endowment policy for high encashment values and used the proceeds to kickstart his venture. The extra funds helped him expand his business and turn his dream into reality.
Debt Relief
Jacky, a devoted child, found himself drowning in debt due to his parents’ medical bills and the support needed for their recovery. To regain financial stability, he sold his endowment policy, receiving a high encashment value that allowed his to pay off outstanding balances.
Starting a New Chapter
Emily, recently divorced, needed a fresh start. She sold her whole life policy and used the proceeds to relocate and build a new life. The higher encashment value empowered her to embrace change and move forward.
Interested to know more about TEPs?
As mentioned, these stories highlight how selling instead of surrendering your policies can potentially offer more.
Interested to find out more?
The dedicated team of customer service officers at Purvis Capital is committed to ensuring that you receive the best value for your policies!
They can guide you towards maximizing the surrender value of your life and endowment policies, while navigating life’s challenges.
See also:
