If I plan to buy an insurance plan from Aviva, should I wait till Jan 2021 for the Aviva Singlife merger? - Seedly
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Anonymous

Asked 2w ago

If I plan to buy an insurance plan from Aviva, should I wait till Jan 2021 for the Aviva Singlife merger?

I have other policies in place.

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Hi anon,

Buying a policy should be based on your needs relevant to your current life stage and not because of some upcoming merger that might or might not take place.

Remember that the transaction is subject to closing conditions, including regulatory approval, and is expected to complete by January 2021 if things go as planned. If this transaction is stopped by the regulations, it doesn't change the fact that your coverage needs remain. Does it mean that you don't buy the policy if the deal doesn't go through? Certainly not.

Thus, please ensure that you have a need or a gap in coverage first, which should be the reason that you are looking for a policy right now. If you don't have a coverage gap, then there's no need to get a policy. But if you do, the impending merger should not be a show stopper in you getting a policy to cover yourself.

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Question Poster

1w ago

Perhaps it means I should buy from another company?
Elijah Lee
Elijah Lee

1w ago

Not necessarily. If you need something, and Aviva happens to offer what you need at the best price point, you should take it. Policies will still be honored, past, present and future.
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Currently, the merger between Singlife and Aviva Singapore is still subject to regulatory approval and is expected to complete only by January 2021. Till then, Singlife and Aviva Singapore will continue to operate independently until the merger is complete.

Should you choose to buy a policy by Aviva Singapore, it will be continued to be upheld and serviced by Aviva Singapore. Should be merger go through, Aviva Singlife will then become responsible for your policy. In any case, the policies will still be honored by the entity. Thus, there is no need to wait till Jan 2021 should you have identified a suitable policy offered by Aviva Singapore.

We have done an article on how the merger will affect you. Do check it out.​​​

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