A woman who bought a life policy with an assured sum of $200,000 from AIA Singapore in 1993 is now battling the insurance giant in court.
Zhu Yong Zhen, 49, is suing for damages, alleging breach of contract, after AIA suspended her policy in 2009.
Representing herself in court, she alleged that according to the 'original policy quotation', she needed to pay premiums for only 16 years.
She said that after this critical year, the remaining premiums for the policy - providing whole life protection until age 100 - were to be paid from dividends gained over the same period.
But AIA said the quotation document - known as a policy benefit illustration - was only for illustrative purposes. Full story
