Clients offered chance to sell part of whole-of-life policies

Greg Donnison

Life Insurance Policy Exchange has added a partial selldown option for policyholders, which allows them to access some money, while retaining a portion of their whole of life and endowment life insurance policies for the future.

It is one of four options now offered by the exchange, including redeeming the full cash value, regular cash flow via lump sums, selling some and keeping some, and retirement planning strategies.

Founder and managing director Greg Donnison said he was seeing more policyholders wanting to supplement retirement income.

"We're providing more options, plus flexibility. People can cash out entirely to get funds now, or they might sell down just a portion of their policy with the cash value of the remaining portion continuing to grow, to access in the future."