Traded Endowment Policies:
What is a Traded Endowment Policy (TEP) ?
A traded endowment policy (TEP) is a life assurance policy, usually a endowment policy, which the original policyholder no longer requires and, instead of surrendering it, sells it to a market maker for an amount greater than the surrender value, either directly, or via the TEP Exchange.
What is the TEP Exchange ?
The TEP Exchange is the first fully automated, Online Exchange for Traded Endowment Policies. The dealing platform stores the buying criteria of various Market Makers and then automatically generates the highest prices available on the system for the policy. Market Makers are able to update their buying criteria as often as they like, which results in the creation of a genuine real-time exchange for TEPs.