Why borrowing money to fund insurance policies can prove detrimental
Sign up now: Get ST's newsletters delivered to your inbox
Borrowers might be feeling the pinch now that interest rates are climbing and could even lose their insurance policies.
PHOTO ILLUSTRATION: PEXELS
SINGAPORE - Interest rates are going up and this could spell trouble for insurance policy holders who took up loans to pay off a large premium upfront.
Financial institutions offer premium financing so customers can fund insurance policies with a large sum assured.
