ACESO Expands Life Insurance Policy Assignment Services

New Delhi, Oct 18 (PTI) ACESO, a tech platform in insurance assignment business, on Friday announced the expansion of its services to include major private insurance companies.

This expansion allows policyholders of major private insurers to benefit from its innovative ALIP programme, which enables them to receive the full surrender value of their endowment policies while maintaining their life cover, ACESO said in a statement.

This expansion presents a compelling solution for policyholders with endowment insurance policies issued by private companies like SBI Life, Reliance Nippon, Star Union Dai-ich, Tata AIA, HDFC Standard, IDBI Federal, ICICI Prudential, Kotak Mahindra, and others, it said.

Many policyholders considering surrendering their policies face a dilemma - they forfeit valuable life cover benefits while receiving only a fraction of the policy's value, it said, adding that ACESO's ALIP programme offers an innovative alternative.

"This expansion grants policyholders with private insurance companies the ability to unlock the liquidity potential of their policies while safeguarding their critical life insurance protection," ACESO Founder Director Ketan B Mehta said.

ACESO leverages a user-friendly web-based platform to facilitate a smooth and transparent assignment process, it said.

The company prioritises security by utilising an independent Special Purpose Vehicle (SPV) Trust overseen by a SEBI-registered trusteeship company, it added.