RE: Food for thought23 Oct 2019 09:21
Good morning.
Totally agree! And Stretch brings up a very good point. Due to the nature of of the business and the novelty in the UK, we the pi's have access to participate in a fund/fund provider where pi's normally are not invited or able to participate.
Insurance companies have over $1trillion in policies written, that they have taken premiums and expect to your upon death.
This fund allows pensioners to access value/equity in their policies in life to do as they please.
So, if a pensioner no longer needs the policy, need to subsidize retirement or simply because they have reached a stage in life where for whatever reason have a desire to do something. This is a vehicle that wil allow them to access equuty/value that would otherwise either not be accessed in life or in many cases simply loses and the insurance company keeps the money.
This is a win for elder holders of life insurance policies.
This is what I feel that people have missed and the magnitude and impact on the market.
This could be bigger than home equity release!