MAS looking into misleading insurance advertisements

A spokesman for the Monetary Authority of Singapore (MAS) said such anonymous ads run afoul of its regulations.
A spokesman for the Monetary Authority of Singapore (MAS) said such anonymous ads run afoul of its regulations.PHOTO: ST FILE

SINGAPORE - The financial watchdog is closing in on insurance agents who have been putting out misleading online advertisements to target customers.

One ad widely available on YouTube offered critical illness cover with the extraordinary offer that policy holders could "claim up to 500 per cent" if diagnosed with over 100 types of illnesses.

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