Travel and term insurance

Dear Mr Tan
Even though you have retired, you still make yourself available for help for those who need you.

For my family year end vacation, I usually purchase travel insurance from either AIA or NTUC. Can I buy both? Is it an offence to do so?

When someone buy life or term insurance for many years, will the insurance firm pay when he is sentenced to death for capital offences?

Many American insurance websites offer cheap term life from reliable insurance firms. Can Singaporeans purchase these insurance? Is there any laws prohibiting us to buy from them?

REPLY
There is no point to buy travel insurance from two insurance companies. You can only claim for the actual amount of the loss. You cannot claim two times, even though you pay two premiums for travel insurance.

A term or life insurance policy pays for death from any reason, except for suicide in the first year. The family can claim for the death benefit on a term or life insurance policy for a person who is sentenced to death for capital punishment.

You can buy term insurance from the American website. Be sure that you have checked the reliability of the insurance firm. However, you may find some difficulty in making a claim due to difference in law. It is better to buy term insurance from a Singapore insurance company, even if the premium is slightly higher.