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
Illustration

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


Joanne Shen 沈丽敏

Financial Advisory Manager

About Joanne Shen 沈丽敏

I empower young working adults in Singapore to craft robust financial plans, enabling them to retire early with confidence. By meticulously assessing their financial landscape, I guide them towards strategic investments and smart savings tactics. My mission is to steer them away from wasteful spending on ill-suited products and services, ensuring every dollar is optimized towards their long-term goals. With my expertise, I equip individuals with the knowledge and tools necessary to navigate the complex world of finance, empowering them to achieve financial freedom and secure futures.

我帮助新加坡年轻的职场人士进行财务规划，让他们能够提前退休，而无需浪费金钱购买不合适的产品和服务。通过精心评估他们的财务状况，我引导他们进行战略性投资和明智的储蓄策略。我的使命是引导他们远离对不适合的产品和服务的浪费支出，确保每一分钱都能朝着他们的长期目标发挥作用。凭借我的专业知识，我为个人提供了在复杂的金融世界中航行所需的知识和工具，赋予他们实现财务自由和稳固未来的能力。

欢迎随时联系我——>请点击这里




#ChooseIndependent with Joanne Shen 沈丽敏

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