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. Madam Zhu Yong Zhen, 49, is suing for damages, alleging breach of contract, after AIA suspended her policy in 2009.
A five-day hearing into the lawsuit opened in the High Court yesterday.
Representing herself in court, she alleged that according to the 'original policy quotation', she needed to pay premiums for only 16 years.
But AIA said the quotation document - known as a policy benefit illustration - was only for illustrative purposes.
It added that the benefit illustration does not have any contractual effect and did not form part of the terms of the policy.
AIA has counter-sued Madam Zhu for defamation over a blog she published on the dispute.
Full text: Straits Times: 26 June 2012
