Monday, November 05, 2012

Settlement option of life insurance policy

on why it rejected client's option to settle matured policy

Our policy contract provides that
an election made by a policyholder in writing
to settle his insurance proceeds with AIA Singapore
is subject to acceptance by the company.
Due to the current sustained low interest rate environment
and uncertainties in market conditions,
AIA Singapore will not be able to accept elections for settlement options.
Malcolm Koh, Head of Customer Service
AIA Singapore

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