Can I nominate beneficiaries to the proceeds of my Part V insurance policy under Academic Staff Provident Fund Approved Investment Scheme (ASPFAIS)?
You may nominate beneficiaries as long as:
- No legal or equitable trust, including but not limited to statutory trusts under any written law, is created over the Part V insurance policy; and
- Your insurer allows you to do so.
This information is sourced from CPF
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