Life insurance product evolution : past, present and future

• Main Author: Heng, Meng Kang
• Other Authors: Mustafa Bin Ahmad
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/64525
• Institution: Nanyang Technological University

This report is to share the project team's findings and studies of the Singapore life insurance product, past, present and future. The objective of this study is to trace the evolution of the life insurance products and the project team hope that this paper will not only benefit the life insurance industry but ultimately the man-in-the street. Sources of information come from secondary data like journal, newspaper articles and textbooks as well as discussions with academics and industry personnel. Tables and graphs are used to highlight trends or substantiate an argument where necessary. The project team finds out that the Singapore life insurance products are still basically revolving around the three insurance products namely term, whole life and endowment. These basic policy are made more attractive to consumer by adding rider like temporary and permanent disability benefits, deferred disability income etc. Therefore Singapore life insurance industry is still relatively undeveloped.