There is rising demand for ‘second-hand’ endowment and life insurance plans in Singapore. What led to this other than more people wanting to be financially prudent/safe?

Hi Anonymous,

This is probably due to an increase in awareness about the trade, which is only 10 years old (first company started in 2010). However, in our view, there is still a knowledge gap about the trade from our experience meeting friends and prospects.

Therefore, at PolicyWoke, it is our mission to educate the public on how 2nd-hand insurance policies work, as we believe that consumers need to be well-informed about the trade before they engage any resale broker for their services.

Disclaimer: PolicyWoke is a resale insurance policies broker.