Pre-Policy Accident Coverage: What LIA Singapore Explains
Learn about insurance coverage for accidental death in Singapore before a policy starts, as explained by LIA Singapore.
Insurance Coverage Before Your Policy Starts
There is a specific period before a life insurance policy begins. During this time, if your death is caused directly and solely by an accident in Singapore, you may be covered. This information comes from the Life Insurance Association Singapore (LIA), which provides information on life insurance products offered to retail customers by life insurance companies in Singapore.
When Does This Coverage Apply?
The coverage applies between two points in 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. So, if an accident occurs in Singapore during this gap, and it directly and solely causes your death, the insurance company may provide coverage.
Background on the Source
The explanation is part of a project by the Consumers Association of Singapore (CASE), the Monetary Authority of Singapore (MAS), the Life Insurance Association Singapore (LIA), and MoneySENSE. This collaborative effort aims to help consumers understand insurance terms and products.