Singapore Insurance

Many people might not know that they can actually buy resale endowment plans from various companies.  This is usually not sold directly from insurers but are instead sold by companies like REPs Holdings which buys endowment plans from people and sell it onward to other people who might wish to purchase these "used" endowment plans.   What is clear is that these plans do not provide any form of insurance as the insured person remains as the original policy owner who bought the plan from the insurer.    After paying it for a few years, the original policy owner probably does not wish to pay the premiums anymore but instead of surrendering it to the insurer, they can sell it to another individual who is willing to take on the premium payments and of course benefit from the final guaranteed/non-guaranteed amounts that come at the maturity of the endowment plan.   The original policy owner benefits since he/she is probably able to get a much higher cash val...

As stated in its benefit illustration, PruWealth is a participating regular premium endowment insurance plan.  Unlike other endowment plans, PruWealth is meant to be long term wealth accumulator that matures only when the life assured turns 100 years old.  That means the plan does not mature in your typical 20 to 30 years that is common in other endowment plans.  Of course, that depends too on the age you are when you purchased the plan. Some interesting features of this endowment plan are as follows: There are various options of premium paying terms ranging from 5 years, 10 years, or 20 years. This basically means it is a limited pay plan where you just need to pay regular premiums for a certain number of years and can stop paying thereafter. Death benefit will always be higher than the amount of premiums put in.  This is typical of any endowment plan so I won't elaborate any further.  Surrender value comprises both guaranteed and non-guaranteed component...