Part 4/9:
Insurance as a Survival Tool: Emulating Safety Protocols
Drawing an analogy from airline safety briefings—where passengers are instructed to "help yourself first" before assisting others—it's essential to prioritize your own insurance coverage. Ensuring adequate living benefits—coverage while you are alive—is crucial in reducing personal and familial financial burdens during health crises.
The Current Shortfall in Insurance Coverage
The Life Insurance Association (LIA) reports a concerning shortfall among Singaporeans:
74% shortfall in critical illness coverage
211% shortfall in death coverage