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

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Under Singapore’s Insurance Act framework for life policies, a life policy on another person’s life is generally void unless:

The person effecting the insurance has an insurable interest in that life when the insurance is effected (subject to statutory exceptions) The insured life later consents in an email after death Premium was paid for at least ten years The policy was marketed online

Correct Answer:

The person effecting the insurance has an insurable interest in that life when the insurance is effected (subject to statutory exceptions)

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