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Insurance product options set to grow online

Home / News / Insurance product options set to grow online

The Straits Times – 20 August 2017

Consumers looking for insurance products online will soon be spoilt for choice, thanks to recent changes to rules relating to the distribution of life insurance policies on the Internet.

Direct life insurers can now offer all types of life policies online with no advice provided. But a range of safeguards are built in, from providing online copies of the product summary and illustrations of the projected benefits, to a product highlights sheet and full policy wordings. These will help safeguard consumers’ interests by providing the key information required to make an informed decision and the avenues for lodging queries and claims.

Etiqa Insurance, which is part of the Maybank group, recently rolled out eEASY savepro, which offers 100 per cent capital guarantee upon maturity and a projected return (non-guaranteed) of up to 4.02 per cent a year – the highest for an online participating insurance savings plan that the firm offers.

The plan is part of the EASY save series, which is tailored to a customer’s risk appetite, savings horizon and aspirations. Customers can choose a participating or non-participating plan, premium size, premium term and policy term based on their preferences.

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  1. I consent to Etiqa and its related, its agents, authorised service providers and marketing partners collecting, using, disclosing, and/or processing my personal data, in order to contact me about products and services marketed by Etiqa or its partners as well as benefits, promotions and rewards, via the modes mentioned or selected, and using my contact particulars which Etiqa may have in its records from time to time (including where applicable my Singapore telephone number(s));
  2. I confirm and agree that my consents granted herein do not supersede or replace any other consents which I may have previously provided to Etiqa in respect of my personal data, and are additional to any rights which Etiqa may have at law to collect, use or disclose my personal data, unless my consent is withdrawn and notified to Etiqa.
  3. I can choose to withdraw my consent by submitting the Marketing Withdrawal Form at www.etiqa.com.sg or email to customer.service@etiqa.com.sg.

Personal Data Protection Terms & Conditions

I expressly authorise and consent to Etiqa, its officers and employees at their sole discretion, to disclose any and all information relating to me, including my personal particulars, my transactions and dealings and my policies of insurance with Etiqa, to any of the following persons, whether in Singapore or elsewhere:

  1. Etiqa’s related corporations or affiliates;
  2. Any of Etiqa’s contractors or third party service providers;
  3. Any regulatory, supervisory or other authority, court of law, tribunal or person, in any jurisdiction, where such disclosure is required by law, regulation, judgement or order of court or order of any tribunal or as a matter of practice;
  4. Any actual or potential assignee(s) or transferee(s) of any rights and obligations of Etiqa under or relating to my policy or policies for any purpose connected with the proposed assignment or transfer; and
  5. Any credit bureau, insurer or representative, for such purpose(s) that Etiqa in its reasonable opinion considers appropriate including but not limited to the purpose(s) of underwriting, customer servicing, investigation of Etiqa’s representatives and monitoring undesirable sales practices.

Eligibility Conditions

  1. The Insured, also known as the Applicant / Proposer, must be a Singapore citizen, Permanent Resident of Singapore or foreigner with a valid Work Pass, Student Pass, Dependant’s Pass or Long-Term Visit Pass.
  2. The Applicant/Proposer must be at least 18 years of age.
  3. For more information, please view our Policy Wording

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