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What type of policies can be traded with The TEP Exchange?
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All with-profit endowments can be traded. There is no minimum surrender value or
minimum term.
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How does quotation system work?
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When you submit a policy to the quotation system, the sophisticated matching engine,
which contains the market makers' buying criteria, will instantly display
the best offers available on the system. The highest price can then be accepted
or declined.
Should the policy not meet the market makers' buying criteria, the policy can be
sent to the auction platform (see below).
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Am I committed to a transaction if I accept an offer?
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The deal is subject to contract until you have signed the documentation and sent
it to the Market Maker's TEP transfer agents. Only then are you committed to proceed
with the policy sale.
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What type of PC do I need?
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The quotation software uses few resources - any PC that runs either Internet Explorer
4+ or Netscape navigator 4.7+ is adequate. We strongly recommend that you have an
e-mail account and a printer to produce the auto-generated documentation.
Software
Any pc operating system can be used e.g. windows 3.1, 95, 98, NT, 2000, ME, XP and
Vista.
An e-mail program (preferably MS Outlook) is strongly recommended. We also recommend
MS-Office with Word and Excel.
Modem/Comms lines
The system will run on a 28K dial-up, but this may be slow for retrieving the longer
reports and we would advise you to use a 56K modem. It is assumed that you have
access to the internet through your favoured ISP (Internet Service Provider).
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What is the best screen resolution?
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The standard screen resolution on your computer should be 1024x768. To do
this, press the Start button, choose Settings, and Control Panel.
Then open up Display and from the tabs at the top, click on Settings. Near
the bottom right hand corner, you will see something marked Screen Area.
Below it is a little marker. Move this marker either to the left or right by dragging
it with the mouse. Once you have found the correct size press OK. You will
then get a pop-up message to confirm your change. Click on Yes. The size
will now be changed. If you are using Internet Explorer, you may also find it useful
to press the F11 key to get a larger view of the page. Press F11 to change it back
again.
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How can the quotes that I get via The TEP Exchange often be greater than when I phone
the Market Makers directly?
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The Market Makers deduct an amount, equal to their admin/manual valuation costs,
from the price they are prepared to pay. Since the deals on the quotation system
are transacted electronically, the Market Makers spend less time and effort completing
deals resulting in less admin costs. This saving is then added to the price they
offer via The TEP Exchange as a benefit to the policyholder.
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How up to date are the bonus rates that are used?
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We have the latest Bonus Rates on our system. They are updated as soon as changes
are announced by Life Offices. Bonus Rates are usually changed annually, but may
be changed at any time by Life Offices.
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Why can't I log in to the TEP Exchange?
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Inorder to log in to The TEP Exchange, your browser needs to be set to accept cookies.
For
instructions on how to do this, please view this pdf document.
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New service Available:
Time Deposits
