Rising demand for ‘second-hand’ endowment, life insurance plans in Singapore

Mr Peter Oh and his wife Deborah Ong are looking to build up an inventory of 100 policies of between $3 million and $5 million. ST PHOTO: KEVIN LIM
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SINGAPORE - Even as more people seem to be surrendering endowment and life plans bought from insurance companies, there is a growing trade in such policies on the resale market.

There are some 10 companies offering sellers 5 per cent to 20 per cent more than the surrender value that insurers would pay.

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