Taking adequate insurance cover
Picking the best plan need not be a painful or costly exercise with the right approach Insurance is one of those things we all feel we need, yet many people plonk it in the to-do basket and promptly forget about it. And it's not as if it's hard to find a reason to put off dealing with insurance: It's complicated, it looks expensive and the returns can look thin and a long way off. Tackling some of those perceptions is one of the drivers behind a major review of the industry announced by the Monetary Authority of Singapore last month. The Financial Advisory Industry Review will look at key aspects such as educational requirements of financial advisers, corporate governance and how agents and advisers are paid for their services. One of the review's key objectives is to lower costs for consumers so that more Singaporeans can take up insurance. There have been many surveys that show how under-insured Singaporeans are. In AIA study last year found