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February 13, 2024
- Filip Leskovsky
With the ongoing Lunar New Year (LNY) holiday break being seven days long, a lot of people are choosing to travel domestically or overseas. The Financial Supervisory Commission (FSC) reminded the public that the option to purchase insurance online is available should this be needed.
During the Lunar New Year holidays, when many offices are closed, travelers may face challenges in purchasing insurance through traditional channels. However, with the surge in travel during this period, the FSC said that there are many insurance options available online. These include medical insurance or accident insurance, as well as coverage for car or motorcycle, residential fire among many others.
The FSC cautions the public to carefully read the terms and conditions and fully understand the policy before finalizing the purchase. It adds that beneficiaries are limited to one’s spouse, direct blood relatives and legal heirs. The FSC also reminds the public that they have the right to cancel any online policies with more than a two year term within ten days of receiving the policy.
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