22 Jul '11, 1am

Only 1 in 10 Singaporeans have adequate life insurance and very few even regard it as important: Survey

Only 1 in 10 Singaporeans have adequate life insurance and very few even regard it as important: Survey

Only one in 10 Singaporeans have adequate life insurance coverage and very few even regard it as important, according to new survey. -- ST PHOTO: CAROLINE CHIA ONLY one in 10 Singaporeans have adequate life insurance coverage and very few even regard it as important, according to new survey. It also found that many people do not review their financial protection needs with their spouses while 60 per cent felt it would be acceptable for their dependants to downgrade their living standards in the event of death or critical illnesses. Mr Tan Hak Leh, senior vice-president and chief executive officer of AIA Singapore, which conducted the survey of 1,013 respondents, told a briefing yesterday: 'When we asked them to nominate the most important items they spend on regularly, family vacations appeared at the top of the list. 'Only one in four are willing to forgo vacations for in...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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