The majority of millennials today in Singapore are tech-savvy, thrifty and tend to care more for their parents, the environment and social causes – this is indicated by OCBC Bank‘s survey of young Singaporeans. They are also all-in about saving more of their salaries. 70% proactively set aside a portion of it as well as showing an interest in buying insurance policies, according to the same survey. But, why aren’t they buying insurance? It isn’t because it’s tough to buy an insurance policy – but maybe because it’s shrouded in misconceptions.
Contributed by Michelle Ee, Wealth Management Director, Financial Alliance Pte Ltd
(The contributor can be contacted at firstname.lastname@example.org)
While COVID-19 rages on, financial help is on hand should you or your loved one become ill from the virus. Financial Alliance has compiled a handy guide to help you quickly identify which types of insurance don’t cover you and which do (and how they cover you).
What’s more, selected insurance companies are offering free COVID-19 insurance to their policyholders. You will find our comparison tables useful for a quick grasp of the free coverage available.
Contributed by Tan Siak Lim, Financial Advisory Director, Financial Alliance Pte Ltd
(The contributor can be contacted at email@example.com)
All along, there have been 2 camps of financial consultants arguing for their opposing cases.
The larger group of traditional insurance agents usually argue that whole life insurance is superior, whereas a smaller “new age” kind of consultants would argue that term insurance is the best solution for ALL situations.