Secure Your Future: Close Your Insurance Protection Gap Today

Are you adequately protected against life’s uncertainties?


 
Did You Know?

Singaporeans Face a $952 Billion Protection Gap


The latest Protection Gap Study 2022 by the Life Insurance Association Singapore (LIA) revealed that there remains a 21% mortality protection gap and a staggering 74% critical illness (CI) protection gap among economically active individuals in Singapore1.



$373 billion In total mortality protection gap
$579 billion In total critical illness protection gap



Find Out How to Close Your Protection Gap Today
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Why You Need to Act Now

  • Life Expectancy is Rising: Singaporeans are living longer, but extended lifespans mean more years of health-related expenses. Have you factored this into your current coverage? Not doing so could erode years of savings and derail even the most carefully laid retirement plans.

  • Critical Illnesses are Expensive: Did you know that on average, patients struck with a critical illness take around 3 to 5 years to recover and return to being economically productive? This leaves many families under-prepared for long recovery periods and lead to degradation in standard of living.

  • Peace of Mind for You and Your Loved Ones: Ensuring you are fully protected with life and critical illness insurance isn’t just about safeguarding yourself—it’s about giving your family financial security if the unexpected happens.

What Are the Essential Insurance Coverage Recommended for Working Adults?


According to the Monetary Authority of Singapore’s Basic Financial Planning Guide2, here are the basic rules of thumb for protection that you can consider.

Whole/
Term Life Insurance

  • Provides financial support to your loved ones in case of premature death, helping them cover ongoing lifestyle expenses.
  • The coverage amount recommended is at least 9 times your annual income.
Learn More

Critical Illness Insurance

  • Covers major medical costs and offers a lump sum payout to ease the financial burden of long-term recovery.
  • The coverage amount recommended is at least 4 times your annual income.
Learn More


For example, someone with the median monthly income of $5,197 should be covered for death & total permanent disability to the tune of at least $561,276. This person should also be insured against critical illness for at least $249,456.

Take Control of Your Future Today

To help you bridge your protection gap, Financial Alliance has partnered with our insurance partners to offer exclusive insurance bundles designed for young adults like you.

Our comprehensive solutions include both Life Insurance and Critical Illness Protection, offering you the best of both worlds.

For a limited time, these bundles come with attractive discounts, cashback rewards and other perks for customers. Terms and conditions apply.

Schedule a Consultation

Footnotes

[1] Source: Protection Gap Study 2022 by Life Insurance Association of Singapore

[2] Source: Basic Financial Planning Guide by the Monetary Authority of Singapore

Note: Insurance plays an important role in your financial planning, and buying an insurance product is a long-term commitment. You should seek financial advice from your trusted financial adviser representative before purchasing any policies.

Frequently Asked Questions on Term Life Insurance

Term insurance is life insurance that provides insurance coverage only for a fixed period of time. An example of term insurance is the Dependants' Protection Scheme.

Riders can be attached to enhance the benefits provided by the policy. As this may vary from product to product, check with your insurance company for more details.

Need Advice?

Meet Your #ChooseIndependent
Financial Adviser Representative


Adrian Chen 陈俊竹

Financial Advisory Manager

About Adrian Chen 陈俊竹

I'm Adrian, and I'm thrilled to connect with you in the realm of personal finance and wealth management. As a dedicated financial coach, I am passionate about helping individuals like you gain control of their financial lives and achieve long-lasting prosperity.

For over a decade, I have been honing my skills as a financial coach, specialising in three key areas of planning:

1️⃣ Financial Planning: I work closely with my clients to create personalised financial road maps that align with their unique aspirations. Together, we identify short and long-term goals, analyse current financial situations, and devise comprehensive strategies to achieve those objectives. Whether it's building an emergency fund, tackling debt, or planning for retirement, I provide tailored guidance every step of the way.

2️⃣ Wealth Management: I believe that wealth is not just about accumulating money; it's about making informed decisions to grow and protect it. I assist individuals in optimising their investment portfolios, utilizing low-risk investment strategies to generate income or long-term growth. By leveraging my expertise in wealth management, I empower my clients to make sound financial choices and navigate the ever-changing financial landscape confidently.

3️⃣ Goal Setting: One of the keys to financial success is setting clear, measurable goals. Together, we'll uncover your aspirations and dreams, and I'll help you craft achievable objectives that align with your values. Through regular progress assessments and adjustments, I ensure that you stay motivated and on track to attain your financial milestones.

🔑 How I Add Value: ✔️ Empower individuals to take control of their financial future ✔️ Provide personalised guidance tailored to individual needs ✔️ Equip clients with the knowledge and tools for financial success ✔️ Foster long-term relationships based on trust and open communication

I firmly believe that financial well-being is within reach for everyone, regardless of their background or current circumstances. My friendly and approachable coaching style creates a safe and non-judgmental space where clients can openly discuss their financial concerns and aspirations. Together, we'll turn your financial dreams into achievable realities.

If you're seeking a dedicated financial coach who can guide you through the complexities of financial planning, wealth management, goal setting, low-risk investment, medical coverage for pre-existing conditions, and estate planning, let's connect! Feel free to reach out, and let's start the journey towards financial freedom together.




#ChooseIndependent with Adrian Chen 陈俊竹

An in-depth insurance portfolio review with Adrian Chen 陈俊竹 could save you money as you spend less for the same coverage, or allow you to be better protected without spending a cent more.