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


PENG CUILING 彭 翠 玲

Financial Consultant 理财顾问

About PENG CUILING 彭 翠 玲

A Little about me:

Before switching careers to become a Financial Consultant, I worked in the construction-related land surveying industry and had 11 years of professional experience. I have been responsible for over 100 engineering projects and worked with no less than 30 local and overseas construction industry companies.

Therefore, I understand the importance of professionalism. I maintain a sincere and responsible attitude, serving every customer with heart, because I believe that only by truly striving for perfection in every detail can we win trust and recognition.

在转行成为独立理财顾问之前，我曾从事与建筑相关的土地测量行业，拥有11年的专业经验。 我曾负责超过100个工程项目，并与不少于30家本地及海外建筑业公司合作。 因此，我知道专业精神的重要性。 现在我保持真诚、负责的态度，用心服务每一位客户，因为我相信只有真正做到每一个细节都力求完美，才能赢得信任和认可。

As a mother of two, I know the importance of planning in order to achieve peace of mind. Therefore, I hope to help more people in similar backgrounds to plan and design financial blueprints for their different stages of life.

作为两个孩子的母亲，我知道规划对于实现内心平静的重要性。 因此，我希望能够帮助更多有类似背景的人规划和设计适合自己不同人生阶段的财务蓝图。

Choose me as your exclusive financial consultant. Clearly understand risks, manage wealth clearly, and enjoy life in a down-to-earth manner.

选择我作为您的专属理财顾问。 清清楚楚了解风险，明明白白管理财富，踏踏实实享受生活。




#ChooseIndependent with PENG CUILING 彭 翠 玲

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