I have a few insurance policies that I plan to hold for the long term. I know of many people who buy a few of the same type of policies. I only buy one of each and that's already quite a heavy load to sustain.
From conversations with people who hold a few policies, they feel that they need more than one policy to give them enough returns or protection should they need to make a claim on whatever situation that hits them.
Some of them have halfway through the term of the policies decide to cash in on them by either selling or surrending the policies. They have done enough research to know which is the better option. According the them, selling endowment policies in the secondary market makes you more money than if you were to surrender the policies to the company you purchased from. It's quite substantial how much more you can cash in from the secondary market, which is estimated to be up to 35% more from the insurance companies.
So if you have thoughts about cashing in, do it the intelligent way.
From conversations with people who hold a few policies, they feel that they need more than one policy to give them enough returns or protection should they need to make a claim on whatever situation that hits them.
Some of them have halfway through the term of the policies decide to cash in on them by either selling or surrending the policies. They have done enough research to know which is the better option. According the them, selling endowment policies in the secondary market makes you more money than if you were to surrender the policies to the company you purchased from. It's quite substantial how much more you can cash in from the secondary market, which is estimated to be up to 35% more from the insurance companies.
So if you have thoughts about cashing in, do it the intelligent way.
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