Singapore is now one of the fastest ageing populations in Asia. According to a study by the Duke-NUS Medical School, the number of Singaporeans above 65 is expected to increase to 610,000 by 2020, even as the number of family caregivers shrinks.
It’s no surprise that this has given rise to a ‘sandwich generation’, a group which has to bear the financial stress of balancing rising medical costs, housing loans, childcare costs and tuition fees, as they care for both children and ageing parents in their three-generation family.
Among this generation, this responsibility of caring often falls on the shoulders of women and may affect their careers in the long run. That’s why it’s important for women to plan ahead for their financial security.
Source: AWARE - Caring for an ageing population
Great Eastern’s GREAT Family Care, a first-ever multi-generational Critical Illness term plan, helps you and your loved ones to face the uncertainties life may bring. It provides comprehensive coverage with no medical assessment required for your children and parents.
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