I walk around Raffles Place rather frequently due to work. Once in a while, I will see a guy similar to the one in the picture below standing at Prudential Tower wearing a huge sign on his back. The message is usually along the lines of surrendering insurance and higher payouts.

So, one of these days, he handed me little brochure which point me to this company named REPS Holdings (Facebook).

Basically, what happens is that instead of surrendering your policy (savings/endowment/etc) to the insurance company you bought it from for really low returns, they will buy it from you. They will continue to pay premiums on it till maturity, and collect the payout. You gain by getting a higher payout. REPS Holdings gain by profiting from the payout at policy maturity.

First thought was, wow. What an awesome place to be putting this guy, huh? Just right outside …