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Concerns raised over investment-linked insurance plans as demand for them goes up in S’pore
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The number of complaints against investment-linked insurance policies hit a peak in 2024 at 211, from 55 claims in 2023.
PHOTO: LIANHE ZAOBAO
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- ILP complaints surged in 2024, with 211 cases reported to Fidrec, mainly due to market misconduct, including mis-selling and inadequate disclosure.
- ILP sales have grown since 2022, driven by investment-oriented products, but many consumers misunderstand the risks and returns involved.
- MAS is considering classifying ILPs as complex products and implementing safeguards for selected clients, with stricter regulations from December 2025.
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SINGAPORE – Consumer complaints against investment-linked insurance policies (ILPs), hybrid products which allow one to invest and get insurance coverage at the same time, are at a high.
The number of complaints hit a peak in 2024 at 211, from 55 claims in 2023, according to the Financial Industry Disputes Resolution Centre (Fidrec).
