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.
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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


Lim Hock Seng Gary

Senior Financial Advisory Director

About Lim Hock Seng Gary

My extensive experience in the financial advisory world has solidified my belief: effective financial planning is built on clarity and ease of implementation. This principle is central to how I help clients achieve their goals. We focus on building a robust Financial Framework, implementing tailored Insurance Solutions, and crafting thoughtful Transfer Strategies – enabling them to become truly Financially F.I.T.

This same focus on clarity and empowerment forms the foundation of how I lead my advisory team. I am building a collaborative group of passionate, self-motivated advisors who aspire to be genuine "financial coaches" for their clients. My managerial approach is rooted in mentorship – helping advisors identify their core strengths and develop a unique, authentic style to deliver exceptional, client-centric financial advice.

Our affiliation with a leading Financial Advisory (FA) firm in Singapore provides a crucial advantage. This platform grants our advisors access to a comprehensive suite of solutions, ensuring clients receive objective recommendations tailored solely to achieving their financial goals.

Whether you are a driven financial professional seeking a purposeful career with mentorship and autonomy, or a client searching for a dedicated advisor committed to your progress, I invite you to connect. Let's explore how we can achieve greater success, together.

Financially F.I.T.: Sound Management. Secure Protection. Seamless Transfer.




#ChooseIndependent with Lim Hock Seng Gary

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