Many times, the insurance industry is a bit like our SMRT system today. On days when rides are really smooth, nobody brings it to the social media to give praise. However, when the transport system starts breaking down, people start ranting away.

The feeling of dislike towards agents of the insurance industry is almost universal. As an unbiased platform for personal finance knowledge, allow us to shed some positivity on the insurance industry. After all, the insurance industry is actually providing us with something really essential.

TL;DR – Singapore’s insurance in numbers As of 31 March 2017, 2.91 million lives are insured by Life Insurance. This means that for every two individuals in Singapore, one of them are well covered by life insurance. Integrated Shield Plans provide two-thirds of the Singapore population with additional health insurance coverage above the MediShield Life cover. The life insurance industry paid out close S$15...