Check my policyHome / Your options / Is selling legal?
Yes. A policyowner in Singapore can sell a life policy by absolute assignment, which transfers ownership and every right under the policy to the buyer. A few things can stand in the way, and buyers of these policies are not regulated by MAS.
Last reviewed 15 October 2026
A summary in plain words. It is general information, not legal advice.
| Law | What it does for a sale |
|---|---|
| Policies of Assurance Act 1867 | Sets out how a life policy is assigned, by an endorsement on the policy or a separate document, and how written notice is given to the insurer. |
| Insurance Act 1966 | Governs nominations. A revocable nomination generally ends when the policy is assigned; a trust nomination usually needs the trustees' agreement. |
| Consumer Protection (Fair Trading) Act | Lets consumers who meet unfair practices pursue civil remedies in court. MoneySense points sellers of traded policies to it. |
| Personal Data Protection Act 2012 | Governs how a buyer collects and uses your personal data. Our privacy notice |
| The law of contract | Your written sale agreement sets the price, the conditions and what happens if either side doesn't perform. |
We check each of these before we make an offer.
The trustees usually have to agree, and often a sale isn't possible at all.
A policy used as security for a loan must be released first.
Most policies can be assigned; a few products restrict it.
Every owner must sign.
A deputy or a donee under a lasting power of attorney needs the right authority to sell.
MoneySense states that MAS does not regulate the sale, purchase or distribution of traded life and endowment policies, and that anyone buying or distributing them is not regulated or licensed by MAS. That includes us.
So the protection you get comes from the general law above, from the written terms of the sale, and from checking who you deal with. What MAS regulation means for you
The insurer must receive written notice and records the new owner. A few products restrict assignment, which is why we check the policy first.
No. The policy still covers the same person's life. Only the owner changes.
Every offer of ours states any insurer fee or stamp duty that applies, and who pays it.
Not by the seller alone once the insurer has recorded it. Before you sign, you can walk away at any point.
Policies of Assurance Act 1867, Singapore Statutes Online
MoneySense: Traded life policies and traded endowment policies (checked 15 October 2026)
We check ownership, nominations and the policy's terms before any offer. No NRIC, no obligation.