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“It may never happen to me.” It’s the sentiment that most employees share when it comes to disability income insurance.

Disability income (“DI”) insurance provides the insured individual with a monthly payout should the insured individual lose their ability to  work for an extended period due to accident, injury or illness.

During the period when the individual is unable to work due to their disability, they will receive income on a monthly basis, and the amount payable is pre-selected by the life insured as sum assured when they  took up the policy.

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Contributed by: Estelle Heng
Intern from Gerontological Management Studies, School of Humanities and Social Sciences, Temasek Polytechnic.

‘I’m too young to think about this’ is probably the most common excuse not to start financial planning in Singapore. However, if we think twice, we’re never too young. Parents buy insurance for their babies as soon as they are born, some before they even take their first breaths. What’s so important about insurance that it is this urgent? The reality is that unexpected things happen. And when they do, you can’t afford to give up your future because of piled-up debts from hospitals or leaving your dependents to pay them off. So really, insurance is more than just protecting yourself, it includes supporting your loved ones as well.

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Contributed by Raymond Wee,
Financial Advisory Director representing Financial Alliance Pte Ltd
(The contributor can be contacted at raymondwee@fapl.sg)

Contrary to popular belief in Singapore, financial planning requires more than just a single meeting with your financial adviser. Planning for your finances is a complicated matter, mainly because your income, expenses, and debt changes as life progresses. As such, financial planning requires regular reviews. Here are top 5 reasons why financial advisers keep telling you you’re under-insured:

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