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

Insurance contracts in Singapore are characterised by utmost good faith (uberrimae fidei). This principally means that:

Material facts affecting the risk must be disclosed honestly so the underwriter can assess the risk The insured may conceal any fact as long as premium is paid Only the insurer owes duties; the proposer owes none Good faith applies only after a claim is denied

Correct Answer:

Material facts affecting the risk must be disclosed honestly so the underwriter can assess the risk

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