SCI CLUS03 Practice Questions - SCI CLU® S CLUS03 DLI03 Life Insurance Law Exam

Which four elements are generally required to form a valid life insurance contract under Singapore contract principles?

Offer and acceptance, consideration, capacity, and legal purpose Only a handwritten signature and a witness MAS approval of every individual policy wording Payment of the first claim before the policy exists

Correct Answer:

Offer and acceptance, consideration, capacity, and legal purpose

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