Insurance industry extending premium deferment relief measures for policyholders

📆 9/18/2020 5:05 AM
📰 The Straits Times

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SINGAPORE - Policyholders feeling the effects of the Covid-19 pandemic now have more time to pay their premiums with the extension of relief measures by the insurance industry.. Read more at straitstimes.com.

SINGAPORE - Policyholders feeling the effects of the Covid-19 pandemic now have more time to pay their premiums with the extension of relief measures by the insurance industry.

Policyholders who are not already on DPP can apply to their respective life insurers for a premium deferment of up to six months. Policyholders on DPP who remain unable to pay the deferred premiums in full at the end of their deferment period should approach their respective life insurers to find out about available options, said LIA.

Meanwhile, the General Insurance Association of Singapore said policyholders have till Dec 31, 2021, to apply to their insurers for flexible premium instalment payment plans while maintaining their insurance protection for the paid-up period.

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