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Financial advisory
RES5Financial Advisory Services✓Which statement about the move to the 2019 standardised CI definitions is correct?
On and after 26 August 2020, CI products using Version 2014 definitions could not be sold in Singapore, so new CI policies from that date used the 2019 definitions. Policies issued earlier were not affected. Version 2019 has since been replaced in turn: from 1 October 2025, Version 2019 products may no longer be sold and new policies use the Version 2024 definitions (LIA MU 58/25).
Existing pre-2020 policies were NOT retro-fitted to the new definitions — the change applies to policies bought from 26 August 2020.
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