The Life Insurance Association of Singapore (LIA Singapore) has introduced an online register allowing the public to check for unclaimed insurance payouts.
As of September 30, 2015, there were 8,185 policyholders across the industry with payouts due to them. The new register enables individuals to search and contact insurers directly if they have policies with unclaimed death proceeds of deceased relatives or unclaimed maturity proceeds outstanding for more than 12 months. Named the "LIA Register of Unclaimed Life Insurance Proceeds," the list will be updated every six months.
While the register provides an additional avenue for individuals to check for unclaimed payouts, life insurers will continue their individual efforts to trace claimants through various means, including contacting clients and placing advertisements.
(http://www.straitstimes.com/business/banking/over-8000-insurance-payouts-in-singapore-unclaimed-but-public-can-now-check-online - original article summarised by ChatGPT 3.5)
You Can Now Check for Unclaimed Insurance Payouts (Singapore)
The Life Insurance Association of Singapore (LIA Singapore) has introduced an online register allowing the public to check for unclaimed insurance payouts.
As of September 30, 2015, there were 8,185 policyholders across the industry with payouts due to them. The new register enables individuals to search and contact insurers directly if they have policies with unclaimed death proceeds of deceased relatives or unclaimed maturity proceeds outstanding for more than 12 months. Named the "LIA Register of Unclaimed Life Insurance Proceeds," the list will be updated every six months.
While the register provides an additional avenue for individuals to check for unclaimed payouts, life insurers will continue their individual efforts to trace claimants through various means, including contacting clients and placing advertisements.
(http://www.straitstimes.com/business/banking/over-8000-insurance-payouts-in-singapore-unclaimed-but-public-can-now-check-online - original article summarised by ChatGPT 3.5)