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For 7 years, Singapore couple paid for 'cancelled' insurance policies
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In all, about $25,000 had been deducted from their joint bank account.
PHOTO: ST FILE
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If you decide to terminate your insurance policy, make sure you do a thorough check and cancel all supplementary plans as well.
This is because some of these extra policies, or "riders" as they are commonly called, can still be in force even though the main policies have been cancelled. So you can still be charged premiums for these riders even though you do not want the coverage any more.
