In conjunction with the implementation of the new legal provisions in the Insurance Act on beneficiary nominations, the Life Insurance Association Singapore (LIA) issued a consumer guide, Your Guide to the Nomination of Insurance Nominees, in 2009.

The Guide has since been revised, with effect from 1 January 2013, to reflect the FATWA ruling that Muslim policy owners may make both Trust and Revocable nominations over their life policies or accident and health insurance policies with death benefits.

The revised Guide can be found here.

About the Author

Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
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