Unlock the value in your currently active insurance policy while enjoying the policy’s protection and other benefits.
The financing service is only applicable to a fully paid insurance policy, with surrender value and issued by a reputable insurance company.
The policy holder will agree to assign the policy to us, as collateral in exchange for the financing services. In the event of death, surrender or maturity of the insurance policy, we will receive the policy payout from the insurance company. The payout will be used to offset the financed amount and the outstanding interest (if any), the remaining balance amount from the policy will be returned to the owner or designated beneficial.
The financing amount will be determined based on the insurance policy’s latest guaranteed surrender value. The applicable loan to value (“LTV”) ratio will depend on the policy type, policy issuing Company, etc. The LTV ratio we offer is up to 90% of the latest guaranteed surrender value.
E.g. the latest guarantee surrender value of policy A, issued by a reputable insurance company, is SGD1,000. The maximum financing we can offer is capped at SGD900.
Benefits of insurance policy backed financing include:
- Liquidity to pursue your cash needs
- Continue enjoying the policy’s coverage without having to surrender your policy
- No interruption to your wealth planning and long term financial goals
- Enjoy the appreciation on your insurance policy value