Pre-Policy Accident Death Coverage in Singapore: What LIA Explains
Understand the coverage window for accidental death in Singapore before a life insurance policy starts, as explained by the Life Insurance Association Singapore.
What Does LIA Say About Pre-Policy Accident Death Coverage?
The Life Insurance Association Singapore (LIA) provides information on life insurance products offered to retail customers by life insurance companies in Singapore.
According to LIA, insurance coverage may be provided in the event of your death caused directly and solely by an accident in Singapore. This coverage applies during the period 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 and Scope
- The death must be caused directly and solely by an accident.
- The accident must occur in Singapore.
- The coverage window begins when the insurer receives both the completed and signed application form and the full first premium payment.
- The coverage ends on the policy’s start date.
This information is based on the Life Insurance Association Singapore’s explanations. LIA is part of a project by the Consumers Association of Singapore (CASE), the Monetary Authority of Singapore (MAS), the Life Insurance Association Singapore, and MoneySENSE, which aims to provide clear consumer information.