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Young & Savvy
What to do when insurance shopping seems daunting
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Singaporeans in general are underinsured, with a recent study showing a 21 per cent mortality protection gap and 74 per cent critical illness protection gap in 2022.
PHOTO: PEXELS
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SINGAPORE – When matters of life and death come round, somehow insurance comes to mind. The life part – turning 30 soon, and the death – attending several funerals in 2023.
It hit me that I would have to pay higher premiums as I get older. Attending the funerals also made me think about the huge emotional toll on those who are left behind, and how a larger insurance payout would at least lighten any financial worries.
