To the youth of Singapore:
You’ve definitely heard of me. Some of you know me as life insurance. Others call me critical illness coverage. Not very attractive names, I know. But those are just some of the hats I wear. My sole purpose is to help you fulfil your dreams in life, and protect you financially should something happen to you.
Yet, I’ve learnt that almost 1 in 2 of you aged 20 to 29, don’t see me as a potential life partner1. Well, that hurts. But no matter. I’m here to show you what you’re missing out on.
1. I’ll look after you in times of need
I never want to see you get hurt. But if that happens, I’m here for you. It may be an accident, a major illness or worse (God forbid!). But I can help cover you financially so you can receive the medical treatment you need, pay for lifestyle expenses, keep up with bills and more. I want you to be able to focus on recovering, instead of worrying about work and income.
2. I’m the wingman for your dreams
Most people don’t think I’m sexy. That I’m just all about death and disability. How wrong. I love helping individuals reach their goals in life. It may be your dream bachelor/bachelorette pad with nothing but MUJI furniture. Your long overdue grad trip across Iceland. Or even your burning desire to open a café. I can help you save and earn for the future, so you get the financial confidence and ability to take the risks you want to. Nothing’s sexier than support. And you’ll always have mine.
3. I’m really flexible
I know you want to live your life to the fullest, and you deserve to! That’s why I come in many forms, such as investment-linked plans that can focus on protecting your life goals or to grow your wealth. This way, you can put your money to work without compromising on your lifestyle. You’ll get to boost your protection coverage if needed and also choose how long you want to stay committed to me. In some cases, you can even take a break from paying your premiums if the need arises! How’s that for flexibility?
In healthy relationships, it’s never all one-way traffic. There are ways I can help you save for the future while treating you to annual cash payouts. You can use that money to go on a dream vacation or save it to further grow your wealth. At the end of the day, I just want you to know that your road to financial independence can and should be an exciting, enjoyable one!
1 Life Insurance Association: 2017 Protection Gap Study Singapore, Page 30, Table 31