How does it work?
A Life Policy is a contract with an insurance company that offers a death benefit (lump sum payment) to the beneficiaries of the insured in exchange for monthly premiums. These policies may include cover for dread disease and disability so that the insured will receive either a lump sum pay-out or a monthly income for a set period of time depending on their claim (illness, disability or loss of income).
Policies taken out before 2003/4 could include an investment portion, which can technically be claimed upon surrender, but this is typically very small. The process is complex and should be handed over to a specialist (broker or financial advisor) to deal with.
Can E8 help?
We can’t, best to address this with an investment advisor that can look into the specifics of the policy you bought.
On the other hand, if you have funds in a Retirement Annuity, we can help you to understand the conversion process, and thereafter provide all the administrative tools (information, individually tailored processes, all necessary documents) and assistance for you to cash out the RA in full, and at any age:
- simple: Once you understand the process the red tape is easy to navigate, and we hold your hand all the way.
- cheap: And if you do not succeed, we will return the small fee for our service.
- safe: We provide the tools for you to do it yourself. We do not act as intermediary, we do not ask for, nor hold, any of your personal financial information, and there are no hidden costs.
Read more here: How will E8 assist me?