Look out for gaps in insurance coverage
No one wants to be caught short when a life crisis strikes, so it's no wonder that the risk of being financially unprepared tops the list of concerns among Singaporeans. Buying appropriate insurance cover is a way of transferring this risk and getting some protection, but how much is enough and what policies should you consider? A 2012 study by the Life Insurance Association Singapore (LIA) on under-insurance identified a $462 billion gap for working Singaporeans and permanent residents. source