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


Sim Hui Qi 沈蕙琪

Consultant

About Sim Hui Qi 沈蕙琪

您好！我是蕙琪！

曾经我也和您一样，忙碌着打工过日子，为了存钱让家人拥有更好的生活~

周末或假日时铁定赶回马来西亚陪伴孩子/父母，享受着难得的相聚时光~

有了孩子后，更是少了自己的独处时间。

别说人生和理财规划了，那时候的我每天都感觉与时钟赛跑，忽略了必须要规划好自己人生的重要性。

 

自从我接触了财务规划知识后，我深深觉得财务规划的重要性。

“莫忘初衷”，我们当初来这里打工的目的就是为了存钱，但忙碌中我们无形的把自己变成了打工机器人，我们把花钱当着是犒赏自己的辛劳。

当然，活在当下是没错的！

我们把每天活成是最后一天，享受每一个当下。

同时，也应做好一切突发事件发生的可能性。这样一来，无论是艳阳天还是雨天，我们都对自己的人生做足了准备，可以更从容地面对。

 

还在犹豫什么呢？

给自己一个机会了解看看什么是财务规划吧！

做一件让未来的你会衷心感谢自己的事，规划好自己的人生！这样才能持续的照亮身边最爱的家人们~

联系我！

立即行动！




#ChooseIndependent with Sim Hui Qi 沈蕙琪

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