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Financial advisory
RES5Financial Advisory Services✓Mr Rahim dies leaving two un-nominated life policies with the SAME insurer, with death benefits of S$120,000 and S$180,000. Without a grant of probate, the maximum the insurer may advance to a proper claimant is:
The S$150,000 limit is calculated on a one-life-per-insurer basis. Across both policies with the same insurer, only S$150,000 may be advanced without probate; the balance is held until the grant is produced.
The cap is per life per insurer, not per policy — the two policies are aggregated and still limited to S$150,000.
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