I hold 2 policies: an endowment and a whole life policy. I have bought these policies for about 1.5 year already. Now, I realized the higher costs are not justifiable and like to terminate these policies and switch to a term policy.
I called up and spoke to my agent (I did not send her any writt
Yes! A deed of total transfer would have to be made or you will be given a Power of Attorney over the policy, but the policy would still carry the same terms and will still be on the life of your friend. The only thing that will change is that from the date of the transfer, you will be liable for t
A Traded Endowment Policy (TEP) is a traditional with-profits endowment plan that the original policyholder has sold in the TEP market (to a market-maker) at a price greater than the surrender value offered by the insurance company.
The surrender values quoted by many life offices often do no