Secure Your Future: Close Your Insurance Protection Gap Today

Are you adequately protected against life’s uncertainties?


 
Did You Know?

Singaporeans Face a $952 Billion Protection Gap


The latest Protection Gap Study 2022 by the Life Insurance Association Singapore (LIA) revealed that there remains a 21% mortality protection gap and a staggering 74% critical illness (CI) protection gap among economically active individuals in Singapore1.



$373 billion In total mortality protection gap
$579 billion In total critical illness protection gap



Find Out How to Close Your Protection Gap Today
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Why You Need to Act Now

  • Life Expectancy is Rising: Singaporeans are living longer, but extended lifespans mean more years of health-related expenses. Have you factored this into your current coverage? Not doing so could erode years of savings and derail even the most carefully laid retirement plans.

  • Critical Illnesses are Expensive: Did you know that on average, patients struck with a critical illness take around 3 to 5 years to recover and return to being economically productive? This leaves many families under-prepared for long recovery periods and lead to degradation in standard of living.

  • Peace of Mind for You and Your Loved Ones: Ensuring you are fully protected with life and critical illness insurance isn’t just about safeguarding yourself—it’s about giving your family financial security if the unexpected happens.

What Are the Essential Insurance Coverage Recommended for Working Adults?


According to the Monetary Authority of Singapore’s Basic Financial Planning Guide2, here are the basic rules of thumb for protection that you can consider.

Whole/
Term Life Insurance

  • Provides financial support to your loved ones in case of premature death, helping them cover ongoing lifestyle expenses.
  • The coverage amount recommended is at least 9 times your annual income.
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Critical Illness Insurance

  • Covers major medical costs and offers a lump sum payout to ease the financial burden of long-term recovery.
  • The coverage amount recommended is at least 4 times your annual income.
Learn More


For example, someone with the median monthly income of $5,197 should be covered for death & total permanent disability to the tune of at least $561,276. This person should also be insured against critical illness for at least $249,456.

Take Control of Your Future Today

To help you bridge your protection gap, Financial Alliance has partnered with our insurance partners to offer exclusive insurance bundles designed for young adults like you.

Our comprehensive solutions include both Life Insurance and Critical Illness Protection, offering you the best of both worlds.

For a limited time, these bundles come with attractive discounts, cashback rewards and other perks for customers. Terms and conditions apply.

Schedule a Consultation

Footnotes

[1] Source: Protection Gap Study 2022 by Life Insurance Association of Singapore

[2] Source: Basic Financial Planning Guide by the Monetary Authority of Singapore

Note: Insurance plays an important role in your financial planning, and buying an insurance product is a long-term commitment. You should seek financial advice from your trusted financial adviser representative before purchasing any policies.

Frequently Asked Questions on Term Life Insurance

Term insurance is life insurance that provides insurance coverage only for a fixed period of time. An example of term insurance is the Dependants' Protection Scheme.

Riders can be attached to enhance the benefits provided by the policy. As this may vary from product to product, check with your insurance company for more details.

Need Advice?

Meet Your #ChooseQuality
Financial Adviser Representative


Sean Ong

Financial Advisory Director

About Sean Ong

As a Chartered Financial Consultant, Certified Life Coach, NLP Practitioner, and former CEO of a financial advisory firm, Sean Ong brings more than 20 years of leadership and financial services experience. His career has spanned banking, insurance, financial advisory, executive leadership, and entrepreneurship—giving him the rare privilege of viewing the wealth management industry from every major perspective. This unique 360-degree experience in the wealth management industry makes him an exceptional professional who is able to provide practical, unbiased, and holistic financial guidance and coaching that goes beyond products and portfolios.

Sean is an advocate for InsuranceGuru.com.sg, a platform designed and dedicated to empowering consumers to customize, compare, and purchase insurance solutions that genuinely meet their needs—without paying for unnecessary bundled coverage. He also shares practical insights on personal finance through articles published on this InsurTech web portal.

Beyond financial planning, Sean integrates life coaching, leadership development, and biblical wisdom to help individuals cultivate financial confidence, purposeful leadership, and lasting personal breakthroughs.

Sean holds a Master's Degree in Technopreneurship & Innovation from Nanyang Technological University (NTU), where he was inducted into the Director's/Dean's List. Committed to making a positive impact beyond his profession, he completed a 1,000 km charity run over 87 days to raise funds for a children's charity and later authored a book, donating all proceeds to charitable causes.

Outside of his professional work, Sean enjoys reading, long-distance running, singing, and meaningful conversations over coffee. He is passionate about collaborating with innovators in AI, machine learning, blockchain, fintech, Insurtech, and ESG technologies, while also advocating for mental wellness, particularly among youths.




#ChooseQuality with Sean Ong

An in-depth insurance portfolio review with Sean Ong could save you money as you spend less for the same coverage, or allow you to be better protected without spending a cent more.