Can I Sell my UK life insurance policy?
Can I sell my UK life insurance policy? The financial realm for selling your life insurance policy is known as the Traded Endowment Policy, or Traded Life Policy (TEPs and TLPs) markets. Many people are offered a surrender fee for their assured lump sum before their term has ended, but it might be more financially smart if you sold your policy.
What type of business insurance do I need in the UK?
The main types of business insurance in the UK include: Public liability insurance – compulsory for any business with a public premises or carrying out activities publicly. This insurance covers both injury and damage to property caused to third parties. Employers’ liability insurance – compulsory to all businesses with employees.
How do I transfer an insurance company in the UK?
In the UK, there is a compulsory statutory process under Part VII of the FSMA for the transfer of all or part of an insurance business. An application must be made to the UK courts for the approval of the transfer scheme, but the consent of the individual policyholders is not required.