Q&A: Can Foreigners Buy Insurance From a Singapore Based Firm?

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In this series, financial adviser Ms Phylise Er Jia Li answers some of the common questions first-time parents have regarding insurance plans and policies.

Q&A: Can Foreigners Buy Insurance From a Singapore Based Firm?Q: I am a US citizen living in Singapore. I recently found out that under section S5C of the US securities act it is illegal for a non US insurance firm to sell products to a US citizen. Does this mean I can not buy Insurance from a Singapore based insurance firm?

A: As you are a US citizen, you may wish to check with the US embassy or your legal adviser for specific regulations on purchasing a suitable insurance plan from a Singapore based insurance firm.

This commentary expresses the views of Ms Phylise Er Jia Li, a financial adviser representative from AXA Life Insurance Singapore Pte Ltd. It is not made with regard to any investment objectives, financial situation or particular needs of any person. Before making an investment decision, you should speak to a financial adviser representative and/or professional services adviser to consider whether this information is appropriate to your needs, objectives and circumstances.

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Written by

Felicia Chin