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Insurance nominations, trusts and assignment

A nomination names who receives the policy money when the life assured dies. In Singapore there are two kinds, revocable and trust nominations, and they behave very differently when you want to sell, surrender or assign a policy.

Last reviewed 15 October 2026 · General information, not legal advice

The two kinds of nomination

Both are made under the Insurance Act 1966, on your insurer's own nomination forms.

Flexible

Revocable nomination

You can change or cancel it at any time. Your nominees have no rights in the policy while you are alive, and you can deal with the policy freely.

A revocable nomination generally ends when the policy is assigned.

Trust nomination

Made in favour of a spouse, children or both, it creates a trust over the policy money under section 132 of the Insurance Act 1966.

You usually can't surrender, sell or assign the policy without the trustees' agreement, and often a sale isn't possible at all.

What happens to a nomination when you sell

Confirm the position for your own policy with your insurer before you sign anything.

	Revocable nomination	Trust nomination
Can the policy be sold?	Usually, yes	Usually only with the trustees' agreement, and often not at all
After an absolute assignment	Generally ends	Not applicable unless the trust is properly dealt with first
Can it be surrendered?	Yes	Usually only with the trustees' agreement
What we do	Check with your insurer before making an offer	Tell you plainly that we can't buy the policy as it stands

Absolute assignment explained · Is selling legal?

How to check which you have

Look for a copy of the nomination form you signed, often filed with your policy.
Check your policy statement or the insurer's app, which may show the nominees.
Ask your insurer in writing whether the nomination is revocable or a trust nomination.
If it is a trust nomination, ask who the trustees are before you plan anything.

Nomination questions

Can I sell a policy with a trust nomination?

Usually only with the trustees' agreement, and often not at all. We won't make an offer on a policy with a trust nomination as it stands.

Do I need to cancel a revocable nomination before selling?

A revocable nomination generally ends when the policy is assigned. Some insurers may still ask you to revoke it first. We check with yours.

Does divorce or marriage affect my nomination?

Life events can affect nominations, especially a trust nomination in favour of a spouse. Ask your insurer and a lawyer to review yours. Policies in a divorce

Is a nomination the same as an assignment?

No. A nomination names who receives the money on death. An assignment transfers ownership of the whole policy now.

Not sure about your nomination?

Tell us what you know and we check with your insurer before any offer. No NRIC, no obligation.

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