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.

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