Variations of this piece of news flooded my Facebook Feed last night.

Coincidentally, I am halfway through Taleb’s latest book: Skin In The Game and there’s plenty of interesting applications I can make to this issue.

1. There is a high price to pay for certainty 

Personally, both the Mrs and I are not really affected as we are not part of the 29% who are on full-riders.

We are covered by NTUC’s Enhanced Income Shield with an additional rider that reduces our co-insurance to 10% and cap hospitalisation expenses to $3,000 a year.

A limit of $3,000 of out-of-pocket expenses is pretty reasonable to us and more importantly, I see it as a signal to insurance companies that we are less susceptible to moral hazard. Therefore, it keeps our premiums lower and more affordable.

But boy am I surprised that there’s almost 30% of Singaporeans on full riders!

When you ...