What are Resale Endowment Policies? (REPs)
There is an old saying ‘Time is Money’
In the past, one can simply trade his time for money. You can always put in more hours into your job or business to earn more income.
However, if you have a lump sum of money on hand, can you trade it for time?
You can do so now with Resale Endowment Policies.
Resale Endowment Policies (REPs), also known as traded endowment policies/secondhand endowment policies are existing savings plans given up by the original owners before maturity. Instead of surrendering to the insurance company, they are sold off. Depending on the size of your investment, you can straight away jump into 5th, 10th,15th, 20th or even the last year of a policy!
By doing so, you do not have to start a savings policy from scratch and spent your precious years waiting for its cash value to build up. You can now get the maturity value sooner with REPs.
Essentially what you are doing is buying time(from someone else) and paying lesser.