ACESO has rolled out the Assignment of Life Insurance Policies (ALIP) program, designed especially for Life Insurance Corporation of India (LIC) policyholders thinking about surrendering their policies or dealing with lapses. With ALIP, you can get the surrender value of your endowment insurance policy and still keep your life cover benefits.
ALIP provides policyholders with the exact surrender value as determined by LIC of India. Additionally, ALIP outlines year-by-year life coverage benefits from the assignment date to the maturity date for nominees, ensuring continued insurance cover if the policyholder passes away without requiring further premium payments. Founded in 2018, ACESO specializes in endowment policies issued by LIC of India and has facilitated over Rs 400 million worth of assignments. This service is managed by an independent Special Purpose Vehicle (SPV) Trust overseen by a SEBI-registered trusteeship company.
