Guides and Articles


Guides


Travel Insurance

Your Guide to Travel Insurance

GIA is the industry representative body of all non-life insurance companies transacting business in Singapore. Produced by GIA, this guide has three sections. The first section explains why consumers need travel insurance when travelling abroad, types of travel insurance coverage, common benefits, limitations and exclusions found in travel insurance plans. The second section contains a FAQ on claims and exclusion under travel insurance. The last section informs consumers on how the insurance industry ensures travel insurance premiums remain affordable.

Motor Insurance

Insuring Your Motor Vehicle

Insuring Your Motor Vehicle Produced by GIA, the "Insuring Your Motor Vehicle" guide explains the different types of motor insurance products available; gives practical tips on what consumers should look out for when buying a motor insurance policy; and helps consumers choose the policy that best suits their needs.

Life Insurance

  Your Guide to Life Insurance
LIA is an industry association comprising direct insurers and reinsurers who are licensed by the MAS to transact life insurance or life reinsurance business in Singapore. Produced by LIA, "Your Guide to Life Insurance" explains the concept of life insurance and outlines the distribution channels and products that are available. It also provides information on the product summary and the benefit illustration.
  Your Guide to Investment-Linked Insurance Plans

The Life Insurance Association of Singapore (LIA) and the Consumers Association of Singapore (CASE) have launched a new consumer guide "Your Guide to Investment-Linked Insurance Plans (ILPs)" under the MoneySENSE initiative. The guide explains the benefits and risks of purchasing ILPs and provides practical tips on the key factors to consider before purchasing the product.
  Your Guide To Participating Policies

The Life Insurance Association of Singapore (LIA) has issued a guide on participating policies to help consumer understand the aims of participating policies, how it differs from investment-linked policies, how the bonus is determined etc.
 

Your Guide to the Nomination of Insurance Nominees

The Life Insurance Association, Singapore (LIA) has launched a new consumer guide entitled "Your Guide to the Nomination of Insurance Nominees". The guide explains how the new insurance nomination law, which came into effect on 1 September 2009, applies to various types of insurance policies.

Policyholder's guide to insurance policies with critical year feature

This guide provides basic and general information on the Critical Year (CY) feature that was previously sold as part of some life insurance policies prior to May 1994.

This guide is intended to help policyholders who acquired such policies prior to May 1994 better understand how the CY feature works and what they can do if they have concerns regarding their policies. It is, however, not meant to cover every possible scenario or offer specific advice for an individual policyholder. Click here to view the guide.

Health Insurance 

 

Your Guide To Health Insurance 2016

The Life Insurance Association, Singapore (LIA) and the General Insurance Association of Singapore (GIA) have launched a new consumer guide, "Your Guide To Health Insurance". An initiative of the MoneySENSE national financial education programme, the Guide provides a general introduction to the concept of health insurance, explains the different types of health insurance products available and gives practical tips on what a consumer should look out for when buying a health insurance product. You can also check out this infographic for a snapshot of the questions to ask when evaluating your coverage.

Consumers Protection (Fair Trading) Act

Inclusion of Financial Products and Services in the Consumer Protection (Fair Trading) Act: How Will This Affect You?

This guide explains how the inclusion of financial products and services in the Consumer Protection (Fair Trading) Act affect consumers. It also highlights what you can do to seek recourse if you have grounds to believe that a financial institution or its representative has not acted fairly in its dealings with you.  

Common Financial Documents

 

MoneySENSE Making Sense of Common Financial Documents Guide

This guide features financial documents which consumers commonly encounter but often do not find time to read and understand. Attached with each financial document are practical tips on how you can better manage your cash flow, manage your credit, provide for your retirement, protect against the unexpected and invest your wealth.

Dealing with a Financial Adviser
Dealing with a Financial Adviser - What to look out for 

The Financial Advisers Act (FAA) regulates companies and individuals who advise consumers on investment products. This guide explains how the FAA can help to protect your interests as a consumer and gives practical tips on what you should look out for when you are dealing with a financial adviser. 


Articles


Making Sense of Your Finances – CPF Statement of Account (Part 1) 

Not too sure of the terms used in your Benefit Illustration or your unit trust term sheet? Through the use of graphics, MoneySENSE will help you understand the different terms used in some of the financial statements/documents that consumers commonly encounter. In the first part of this new series, we show you how to read your CPF statement. Click here (PDF, 90.0KB) to find out more.

Making Sense of Your Finances – CPF Statement of Account (Part 2) 

In the second parter on CPF Statement, we show you what is contained in your property and investment statements. You can check your CPF Statement at www.cpf.gov.sg. Click here (PDF, 98.4KB) to find out more.

Annuities to meet Retirement Needs

One of the biggest concerns we have in our golden years is outliving our savings. As such, it is important that we accumulate enough savings to see ourselves through a longer period of retirement. One investment option which is suitable for our retirement needs is annuities. Find out what annuities are and what you should consider when buying such products.

Traveling with Peace of Mind

Purchasing travel insurance is an important aspect in travel planning that should not be overlooked. While we have the primary responsibility for taking care of our personal possessions and safety, having appropriate travel insurance can help us travel with greater peace of mind. Click here to find out more.

Making Sense of Your Finances – Benefit Illustration for Regular Premium Investment-Linked Policy

What do you need to know before purchasing a regular premium investment linked policy? MoneySENSE shows an illustration explaining key terms in the Benefit Illustration for a Regular Premium Investment Linked Policy.

Making Sense of Your Finances – Bonus Statement for your with-profits life insurance policies

If you own a participating life insurance policy, you would have received bonus statements from your insurer. MoneySENSE shows an illustration explaining key terms in such bonus statements.

Aggressive Selling - How to Protect yourself

Have you met with instances of aggressive selling where you do not know how you should deal with the sales person? Read about the tell-tale signs of aggressive selling and how you can protect yourself from being a victim.