Insure for protection, not because it’s ‘free’

The Monetary Authority of Singapore says it is always prudent not to respond to ads you are unsure of, especially if the promise of returns appears too good to be true.

Is there such a thing as a fully refundable insurance policy that will pay you back every cent you have put in, if you do not make a claim?

Well, yes, if you believe some of the videos circulating on social media. One of these videos explains how the “policy” works:

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