Accidental Death Cover Before Policy Start: What It Means in Singapore
Learn about potential life insurance cover for accidental death in Singapore before your policy starts, as explained by LIA Singapore.
Understanding Pre-Policy Accident Cover
Life Insurance Association Singapore (LIA) provides information on life insurance products offered to retail customers by life insurance companies in Singapore. This information is part of a project by Consumers Association of Singapore (CASE), Monetary Authority of Singapore (MAS), Life Insurance Association Singapore (LIA) and MoneySENSE.
According to LIA’s insurance terms, there may be insurance coverage in the event of your death caused directly and solely by an accident in Singapore. This coverage applies between the time when the insurance company receives the completed and signed application form together with full payment for the first premium and the start date of that policy.
Key Conditions to Note
The coverage is specific: it applies only to death that is caused directly and solely by an accident, and the accident must occur in Singapore. The coverage window starts when the insurer receives both the completed and signed application form and full payment for the first premium, and ends when the policy starts.