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## Question 10 of 100 What is the legal limit on the amount of insurance that an individual can take on his life? - S$1.5 million - S$2 million - S$5 million - There is no legal limit. **Explanation:** Legally, there is no limit to the amount of insurance that an individual can take up on his lif...

## Question 10 of 100 What is the legal limit on the amount of insurance that an individual can take on his life? - S$1.5 million - S$2 million - S$5 million - There is no legal limit. **Explanation:** Legally, there is no limit to the amount of insurance that an individual can take up on his life. In practice, the insurer usually limits the amount of sum assured to a sum that matches reasonably with the life insured's financial status and earning power, so that he can afford to pay the premium during the term of his life insurance policy. This also reduces the risk of moral hazard and fraud. **Current Score:** 2 / 100