¶¶Òõ¶ÌÊÓƵ

All Countries
Corporate Governance
Acknowledgement Statement For Policy

Acknowledgement Statement For Policy Template for Singapore

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Acknowledgement Statement For Policy

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Acknowledgement Statement For Policy

"I need an Acknowledgement Statement For Policy for a new comprehensive life insurance policy being issued to a high-net-worth client on March 15, 2025, with specific emphasis on complex investment-linked components and foreign currency considerations."

Celebrated by
Collaborations with
Investors
Document background
The Acknowledgement Statement For Policy is a crucial document in Singapore's insurance framework that protects both insurers and policyholders. It is required when new insurance policies are issued or significant changes are made to existing policies. The document confirms that policyholders have received comprehensive information about their policy, understand its features and risks, and have had their questions adequately addressed by their financial adviser. This statement helps ensure compliance with Singapore's regulatory requirements, particularly those set by MAS and the Insurance Act, and serves as a key record in case of future disputes or clarifications.
Suggested Sections

1. Policyholder Details: Full name, identification details, and contact information of the policyholder

2. Policy Information: Policy number, type, and key features being acknowledged

3. Key Disclosures: Important terms, conditions, and risks that have been explained

4. Financial Adviser Declaration: Confirmation that all relevant information has been explained

5. Client Acknowledgement: Explicit confirmation of understanding and acceptance

Optional Sections

1. Language Declaration: Confirmation that explanation was provided in preferred language (used when client's primary language is not English)

2. Third Party Authorization: When policy decisions involve authorized third parties

3. Digital Consent: For electronic policy documentation and communications

Suggested Schedules

1. Product Summary: Detailed description of the insurance product

2. Benefit Illustration: Illustration of policy benefits and projected values

3. Client Fact Find: Summary of client's financial needs analysis

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



























Clauses






















Industries

Insurance Act (Chapter 142): Primary legislation governing insurance business in Singapore, including policy disclosure requirements and policyholder protection mechanisms

Financial Advisers Act (Chapter 110): Regulatory framework for financial advisory services, covering disclosure requirements and fair dealing obligations for client interactions

Personal Data Protection Act 2012 (PDPA): Legislation governing the collection, use, and disclosure of personal data, including consent requirements and data protection obligations

MAS Guidelines: Regulatory guidelines issued by Monetary Authority of Singapore, including Notice FAA-N16, Fair Dealing Guidelines, and Product Information Disclosure requirements

Consumer Protection (Fair Trading) Act: Legislative framework protecting consumers against unfair practices and ensuring transparent disclosure of terms

Electronic Transactions Act: Legislation governing electronic transactions, including requirements for electronic signatures and records if the acknowledgement is executed electronically

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Contractor Confidentiality Agreement

find out more

Form For Change In Registered Office Of Company

find out more

Acknowledgement Statement For Policy

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.