Insure for protection, not because it's 'free'

Be wary of online deals by unknown insurers that offer a full refund of premiums

One ad widely available on YouTube offered critical illness cover with an extraordinary offer. PHOTO: SCREENGRAB FROM YOUTUBE
New: Gift this subscriber-only story to your friends and family

Is there such a thing as a fully refundable insurance policy that will pay you back every cent you have put in, if you do not make a claim?

Well, yes, if you believe some of the videos circulating on social media. One of these videos explains how the "policy" works:

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.