Could i buy an endowment policy direct from a friend rather than him surrendering it to insurance co?
Answer:
Yes! A deed of total transfer would have to be made or you will be given a Power of Attorney over the policy, but the policy would still carry the same terms and will still be on the life of your friend. The only thing that will change is that from the date of the transfer, you will be liable for the monthly or annual premiums and the final proceeds of the policy will go to you.
He would have to talk to his insurance company, and get their approval first. hope all goes well.
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