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



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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.

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.


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


Ng Sheau Yng 吴小莹

Senior Financial Consultant

About Ng Sheau Yng 吴小莹

After experiencing the transformative impact of financial planning, I transitioned from accounting into a financial advisory career. My mission now is to support busy accounting professionals in building a secure and prosperous financial future. I understand the unique challenges and demands of your career and am here to help you balance them with long-term financial security.

With the support of Singapore's largest independent financial advisory firm, I prioritize building relationships that go beyond transactions. I make it my priority to understand each client's financial goals in depth, creating tailored solutions that respect their time and knowledge.

How I Can Help Professionals
Risk Management with Expertise: Accountants know the importance of risk mitigation. I apply that same rigor to ensure your personal wealth is protected, helping you identify and manage financial risks to safeguard your assets.

Tax-Efficient Savings Optimization: With a focus on tax efficiency, I craft strategies that maximize your savings potential without complicating your financial situation. As an accountant, you’ll appreciate the fine-tuned approach I take to minimize tax burdens and grow your wealth.

Income Streams for Sustainable Wealth: Building stable, passive income streams is key to a comfortable retirement. I develop strategies that work alongside your goals to create reliable income, letting you focus on your career now while securing financial stability for the future.
Let’s Secure Your Future Together
If you’re ready to start planning for a secure, fulfilling retirement, let’s connect today. I look forward to helping you build a strategy that aligns with both your professional life and personal aspirations.

💡 在我担任会计的15年里,我从未认真审视过我的保险政策,直到我遇到了一位出色的经理。他不仅帮助我审查了现有的保险政策,还让我节省了保险费,增强了保障。通过这次经历,我意识到定期审查保险是多么重要!现在,我希望帮助更多的人实现同样的目标,甚至创造额外的被动收入!如果你也在寻找更好的保障和投资方案,不妨考虑一下哦!✨

 




#ChooseIndependent with Ng Sheau Yng 吴小莹

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