[sgbuffett]

will all the insurance companies know the client had died and so pay out to family members ?

or need to get deceased's insurance documents and go to each insurance company to claim ?

I think when the state handle and distributed person estate all institutiona under MAS is written tk and has to reveal what accounts theh have with the bank and insurance policies.

If you have an overseas account or policy, that won't be able to covered  that as it is out of their jurisdiction.

But all banks and insurance companies under MAS are covered.

I think in all developed countries the financial institution cannot sit and take dead people's money. They are required to put it aside and seek out beneficiaries who inherited tye money or answer to claims.

Banks and insurance companies make money via their business models, they wont go and steal dead person money because that will destroy  their reputation.