I got a shock when I read that 86% of those surveyed by
Citi Financial Quotient Survey 2010 (http://www.todayonline.com/Business/EDC110202-0000193/Most-say-CPF-savings-not-enough) that they intend to use whole life insurance for retirement funding! According to the Today Online ‘Most say CPF savings not enough’ 2 Feb 2011,

“Singaporeans are turning to alternative means to take them through their silver years. These include proceeds…