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


Lai Ailing

Financial Advisory Manager

About Lai Ailing

Having been in the financial planning industry since 2008, this is what I know, have been doing, and will always do.

Throughout my decade-long experience as an insurance professional during the initial years of my career and now as an independent financial advisor representative, I have served more than 400 clients and corporate professionals. As I continue to grow professionally as a financial advisory practitioner, I have also embraced new roles as a wife and mother to two young children. Understanding the value of time for my clients and their families, my business focuses on helping busy professionals protect what matters to them so they can spend more time with their loved ones.

The era of digitalisation presents a situation of digital overload, with an overwhelming amount of information readily available online. With so much information out there, how does one sift through the endless and ever-expanding data to make relevant financial decisions to achieve their goals? This is where I step in to cut through the noise and distraction, analyzing and presenting information in a way that is clear, concise, and tailored to meet the specific needs of my clients.

Beyond helping my clients achieve their financial freedom and goals, I have another passion—rock climbing. I’ve been engaged in this activity for even longer than my professional career. Rock climbing is not just a hobby but a metaphor for my professional approach: strategic planning, precise execution, and unwavering focus on reaching the top (goal).

My Qualification:

  • Bachelor of Business (Hons), Nanyang Business School



#ChooseIndependent with Lai Ailing

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