- Our purchase agreement: the price, the conditions, and what happens if your insurer cannot record the transfer.
- An absolute assignment: the document that transfers ownership of the policy to us, in the form your insurer accepts.
- A notice to your insurer, so it records us as the new owner.
Check my policyMenu
Home / Sell my policy / How selling works
How selling your insurance policy works
Selling a policy, sometimes called an insurance buy back, takes four steps from your first message to payment. Nothing is decided until you sign the assignment, and you can stop at any point before that.
-
First, tell us about the policy
Your insurer, the plan name, its start and maturity dates, the premiums and your latest surrender value. No NRIC and no documents at this stage. We reply with whether we would buy it.
InsurerGreat Eastern
Matures2030
Net surrender valueS$30,000
-
Then we work from your insurer's figure
You ask your insurer for a current surrender value statement, so both of us price from the same official number. We may ask for the benefit illustration too.
Surrender value statement
Gross valueS$31,200
Less policy loanS$1,200
Net surrender valueS$30,000
-
Then you get a written offer
Our price sits beside your net surrender value, with every condition listed. Take it to your adviser or family and compare it in your own time.
Written offer
Net surrender valueS$30,000
Our offerS$31,500
Valid until31 October 2026
-
Last, the policy is assigned to us
You sign the assignment, your insurer records it, and we pay you into an account in your own name.
Notice of assignment
AssignorYou
AssigneeSurrenderPolicy
InsurerRecorded
Figures are an illustration, not an offer.
What you sign
What we will never ask
- That you pay any fee to receive your money.
- That you sign a blank or incomplete form.
- That you send your NRIC or policy documents over WhatsApp or email.
- That you accept payment from anyone other than SurrenderPolicy
- That you decide on the spot.
How long it takes
It depends mostly on how quickly your insurer records the assignment. Your written offer includes a timetable for your case.
Start with a free check
Tell us about your policy and we reply with a straight answer. No NRIC, no obligation.