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.
Learn More

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


Surina Zakariah

Senior Consultant

About Surina Zakariah

Do you have trust issues that investment products may be haram? 

Do you need thorough explanation on Islamic principles on insurance and investment products?

And,

Are you concerned that you have not prepared your retirement plan? 

If you have any of the above concerns, I would love to assist and work with you!

Hello and Peace be upon you!

I am Surina and I am a shariah wealth advisor. I am a former MOE teacher for 12 years before finally joining this industry of financial advisory.  I had always wanted to be able to fulfill more work-life balance and I discover this in financial advisory career, Alhamdulillah.

What I appreciate most being in this field is that; I get to be part of my clients' journey to financial stability. No doubt God is the Sustainer and unto Him we seek and ask for sustenance.  How do we deal with wealth that He bestows upon us??

I will share with you how Muslims should be interacting with wealth, and ultimately, I wish that all my clients be zakat payors ~ those who are financially independant/ stable.  It really heartens me to see my clients' savings grow and grow, in line with their financial goals.

Why you should invest??

I still remember that a set of roti prata used to cost 80 cents when I was young but is now $2.20.  That's inflation at play, the hard truth is that the value of fiat money is decreasing and will keep decreasing as time passes by.   

So in spending your money, you always face INFLATION. On the other hand, when you save your money (in savings account), you may gain a little bit of INTEREST (Riba), which will never keep up with the ever-rising inflation rate.  Ultimately, this is the reason why you need to invest your savings so that it will not lose value due to inflation!  

Plus, if you are a Muslim, savings are zakatable hence you must be savvy to ensure that your investment returns are high enough to enable your savings to pay off zakat and still brings in profits (identifying funds with higher potential return rates).

Want to find out about these shariah compliant investments??

Come, let's have a kopi session soon! Click on the Contact button and I will reply to you the soonest I can!!

 

 




#ChooseQuality with Surina Zakariah

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