if u surf to the website of the life insurance association of singapore (http://www.lia.org.sg), u will have noticed (on the right side of the page) there is a trivial quiz on life insurance with the answer given which goes like this;
Quiz
Question: What is the maximum that a family can claim in the event of death for life insurance if the person has multiple policies from different insurance companies?
Answer: There is no maximum limit that the family can claim in an event of death. For example, if the deceased holds three valid, in-force life insurance policies from different insurers covering death as an event, the death proceeds of all three policies are payable to his estate.
right after the answer, u are to click whether the answer given is true or false.
my comments:
even though this may be (to me, at least) a rather trivial question, i was somewhat surprised (or perhaps not) to discover that out of a total of 163 responses, 26 or approximately 16% did not click on the right answer.
but then again, in my 14 years in the financial industry, there have been quite a number of times when i found that consumers do not even know that they get penalised for opting to pay premiums not annually but usually by monthly mode where the difference can be as high as up to 5% more than paying by annual mode.
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