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All Things Considered: the Ins and Outs of Purchasing Motor Insurance

There is more to motor insurance than meets the eye. Marcelina outlines for the reader the many considerations and choices of cover that insurers offer.

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4th Quarter, 2011

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New Framework for Nomination of Beneficiaries in Life Policies

by Ang Kim Lan, MBA, LLB (HONS). Executive Director, Goodwins Law Corporation

Up until recently, most people assume that when they buy a life insurance policy, they can also nominate their designated beneficiaries who are then entitled to the policy proceeds upon the death of the life assured. Policy owners are under the impression that the position is the same as with CPF nominations, with respect to the moneys in their CPF accounts. The truth of the matter is that other than nominations under Section 45 of the Co-operative Societies Act and under Section 73 of the Conveyancing and Law of Property Act (CLPA), all other nominations are invalid in law.
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