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


Teo Zandra 张倩云

Financial Consultant

About Teo Zandra 张倩云

我是专业的风险管理顾问,专注于企业和个人的风险保障。作为一名新加坡的独立财务顾问,我致力于帮助客户识别潜在风险,制定全面的解决方案,确保他们能够在面对不可预见的挑战时从容应对。

在企业方面,我协助公司分析和评估经营中的潜在风险,包括责任保险、关键人物保险以及业务延续规划等,帮助企业在保护核心资产的同时提升抗风险能力。在个人方面,我为客户量身定制保障方案,例如医疗保险、收入保障和退休规划,确保客户及其家人的未来得到充分保障。

作为一名独立顾问,我的服务以客户利益为核心,不受特定产品或机构的限制。这种独立性使我能够灵活地为客户甄选最适合的解决方案。我与多个值得信赖的合作伙伴,包括保险公司和金融机构,保持紧密合作,以确保为客户提供全面和高效的服务。

我的服务理念建立在“可靠性、责任感和关怀”之上。我注重倾听客户的需求,深刻理解他们的目标和挑战,以便提供切实可行的建议。我始终关注市场动态和政策变化,确保我的解决方案既具前瞻性又符合实际需求。

 

无论您是企业主,希望通过完善的风险管理保护公司发展,还是个人,希望为自己和家人提供安心的保障,我都将为您提供专业支持和个性化服务。让我们携手合作,共同规划一个稳健、无忧的未来!

 

 

 

 

 

I am a risk management professional specializing in company and personal risk protection. As an independent financial advisor based in Singapore, my primary focus is on safeguarding the interests of businesses and individuals against unforeseen risks, ensuring they are prepared for any eventuality.

 

In the corporate realm, I help businesses identify potential vulnerabilities and develop comprehensive risk protection strategies. This includes areas such as liability coverage, keyman insurance, and business continuity planning. For individuals, I provide tailored advice on securing personal and family well-being through solutions like health insurance, income protection, and retirement planning.

 

Being independent means I represent my clients, not a specific product or provider. This allows me the flexibility to source and recommend solutions that are genuinely in your best interest. I work with a wide network of trusted partners, including insurers and financial institutions, to offer bespoke solutions that align with your unique needs and goals.

 

My approach is rooted in reliability, responsibility, and care. I believe in building long-term relationships with my clients by understanding their circumstances and aspirations. By staying updated on market trends and regulatory changes, I ensure the advice I provide is timely and relevant.

 

Whether you’re a business owner looking to safeguard your company or an individual seeking to protect your loved ones, my goal is to provide clarity, confidence, and peace of mind through well-rounded risk management strategies. Let’s work together to secure a future free from unnecessary uncertainties.




#ChooseIndependent with Teo Zandra 张倩云

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