Wednesday, December 7, 2011

Many Singaporeans are still underinsured

Only 1 in 10 Singaporeans have adequate life insurance coverage. Research has shown that Singaporeans are generally under-insured. Although many have heard about the importance of having sufficient coverage against death, disability and critical illnesses, very few regard it as important. They would rather spend the money on vacations. However, without adequate insurance, you and your family may suffer financially when a breadwinner of the family dies prematurely or contracts a critical illness.

I have just read this online:

A 22-year-old runner collapsed and died after competing in the Standard Chartered Marathon Singapore this morning.

The athlete, whom organisers declined to name, was participating in the half-marathon (21km) category.

According to organisers, the Chinese man collapsed at the finish line at the Padang at approximately 8.30am. He was attended to immediately and subsequently sent to the Singapore General Hospital.

The hospital said he died at 9.30am.

My condolences to his family and friends.

Life is so unpredictable. Many people think that the young and healthy do not need any form of risk management planning which is totally untrue. Accidents and incidents can happen anytime. For those of you who have already done your risk management planning, do review it from time to time to see if it is suitable for you and please always be clear about what you have bought. I realize that many people actually do not know what policies they are buying/have bought. I was guilty of it as well in the past and I actually took some time to review my own policies and made some changes to it =)

1 comment:

robin said...

life is unpredictable , treasure your loved ones :)