in the common singaporean identity and aspiration to acquire the 5Cs (or more), namely condo, car, cash, credit cards and country club membership (in random order), i've noticed there is an unchanging statistic in all the years that i've been in the financial industry and it is the fact that by and large, our population remains grossly under-insured.
despite boasting of many accolades being bestowed upon our tiny red dot nation and people, i've always been intrigued as to why a human being's life is not similarly valued in dollar terms, with regard to insuring ourselves.
take for example the latest statistic from the lia (http://www.lia.org.sg/node/2923) where we see the total claims of $3.69 billion being paid out up to the latest quarter till sep 30, 2011. of these, only a mere $342 million or 7.3% were paid for death, disability and critical illness claims. ......
in the common singaporean identity and aspiration to acquire the 5Cs (or more), namely condo, car, cash, credit cards and country club membership (in random order), i've noticed there is an unchanging statistic in all the years that i've been in the financial industry and it is the fact that by and large, our population remains grossly under-insured.
despite boasting of many accolades being bestowed upon our tiny red dot nation and people, i've always been intrigued as to why a human being's life is not similarly valued in dollar terms, with regard to insuring ourselves.
take for example the latest statistic from the lia (http://www.lia.org.sg/node/2923) where we see the total claims of $3.69 billion being paid out up to the latest quarter till sep 30, 2011. of these, only a mere $342 million or 7.3% were paid for death, disability and critical illness claims. ......
