Hi. May I check is it possible for a foreigner not residing or working in Singapore to buy a term insurance in Singapore? Thank you for your advice.

Hi anon,

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Yes that's possible, subject to certain constrains.

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There's 2 ways to do so

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1) Fly in to purchase. The primary city of residence would play a part in determining the premiums. For example, major cities in Indonesia (think Jarkarta, Bandung, etc) would have a lower premiums compared to non-major cities. Medical and financial underwriting criteria will apply. Other information such as proof of address, proof of identity, etc, would be needed as well.

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2) Offshore non face to face. This person would be considered a non fly-in passer by. In addition to the above, there would be additional criteria imposed, the allowable countries would be lesser, etc. The range of allowable term plans would also be smaller.

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As this is a very case-by-case scenario, more details would be needed before assessing if 2) is possible (which would not need the person to fly in) or if 1) is the only viable method.

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Hope that helps clarify.

Should be possible.