A life insurance agent is required to give a disclosure notice about information practices
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INSURANCE CODE Show Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources. Who regulates insurance companies in Singapore?Insurance and reinsurance activities are regulated by the MAS, established by the Monetary Authority of Singapore Act (Cap 186). The MAS is responsible for the licensing, authorisation and supervision of insurance and reinsurance activities.
What are the compulsory insurance in Singapore?All Singaporeans are covered under MediShield Life, a basic government health plan to cover large medical expenses. Besides having to deal with large medical or hospital bills, you may not be fit for work during your recovery.
How do I know if my insurance agent is licensed in Singapore?The public can check if a general insurance agent is registered with ARB, and the insurers that the agent is authorized to represent, by using the agent search module at this link. When performing a search for an individual agent or a nominee agent, you must have the NRIC/FIN/Passport number or the GIA nominee number.
What is the minimum free look period for newly issued life insurance policies in this state?Every state insurance department mandates a free look provision of at least 10 days for life insurance policies, though many require an even longer period. Additionally, your contract may include a free look provision longer than the minimum requirement.
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