Who holds the biggest significance in your life?
The response is “family” 90% of the time.
It might be your children. Your parents. Your spouse. Anyone related by blood could be your most beloved.
What would you do for the people you love? I’d give up my life to protect them, is probably what you’d say.
Unfortunately, giving up your life does not actually help them.
Consider this.
Who’s going to pay the EMI on the wonderful new house you just bought? If they are dependent on you in any way, it would be bad for their cause if you passed away.
You might not have an EMI, though.
However, you most likely have dependents. They’ll have to get by without you after you are no longer a factor.
It is an unsettling idea. In fact, it’s unpleasant for the majority of people. Because confronting reality without you is extremely difficult. You’ve only ever known one version of the world, and it is filled with you. But that will change eventually. And when that time comes, you’ll have to find a way to accept the consequences.
So, when someone asks you, “What would you do for the people you love?” in the future;
Say you’ll purchase insurance.
Most likely, it sounds absurd. Possibly even childish. The problem is that it’s not. To face these difficult truths and prepare for a life without you takes courage and tenacity.
However, the sad reality is that only 3 out of 10 urban Indians are brave enough to buy insurance.
Indians attach importance to insurance only when they get something in return. That’s why there are products which offer both.
The question at hand is: should you opt for a brand new insurance policy or a pre-owned one?
The answer lies in your needs.
Purchasing a new policy means that you are creating wealth plus providing a cover to your loved ones. Although the purpose of purchasing insurance is to have a safety net in case of disaster, there may be times when the policyholder desires to cancel or surrender the policy. The inability to pay insurance premiums, the need for money in an emergency, the lack of financial resources for survival, etc., could all be contributing factors.
People may find themselves with life insurance plans they no longer need or desire for a variety of reasons. There may no longer be a need for the policy, the premium may be too costly, the policy may be functioning poorly, or all three. But when other, more profitable ways to invest come along, these rules could end up being a burden. Because of this, many people just give up their policies when the time comes.
However, these surrendered policies are the hidden assets that have the potential to generate enormous amount in form of returns.
The first important question:
CAN YOU INVEST IN A PRE-OWNED POLICY?
In a nutshell, yes.
This can be done through a platform like ThePolicyExchange that connects you with interested Policyholders.
It is as simple as transferring your regular car insurance policy, but in this case it applies to an individual’s life.
“If you need help finding investors for your pre-owned policy, you can get in touch with us at ThePolicyExchange.“
WHY WOULD YOU WANT TO BUY A PRE-OWNED INSURANCE?
Let’s take an example to understand this better.
You are in your 50’s with an annual income of INR 10 lakh plus. You have accumulated wealth over years and your liabilities are
also negligible. Your priority now is to build wealth for your retirement. You are looking out for lucrative investment opportunities
which are less risky. Even though our Indian fathers and uncles have taught us to love FDs, they are an investment tool from the
past.
What if, with newer technology advancements, you could also enjoy superior returns on your investments that are tax-free?
That is exactly where investing in pre-owned insurance for you is a lucrative option.
You are generating wealth with a potential of 8-10% returns p.a which are as safe as FD. And completely tax-free.
So what are you choosing today-a new policy or a pre-owned one?
If you need help finding investors for your pre-owned policy, you can get in touch with us at ThePolicyExchange.
