{"id":13083,"date":"2025-01-01T20:03:27","date_gmt":"2025-01-01T12:03:27","guid":{"rendered":"https:\/\/newcorpdemo-uat.cntaiping.sg\/?post_type=financial-articles&p=13083"},"modified":"2025-04-10T16:22:19","modified_gmt":"2025-04-10T08:22:19","slug":"st-are-you-and-your-family-prepared-for-the-future","status":"publish","type":"financial-articles","link":"https:\/\/www.sg.cntaiping.com\/en\/financial-articles\/st-are-you-and-your-family-prepared-for-the-future\/","title":{"rendered":"Sunday Times – Are you and your family prepared for the future?"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\tMost people go through fairly predictable stages in life: Graduation, marriage, raising a family and retirement. But rarely does life fall into place perfectly, as planned.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tA single accident can change the course of a person\u2019s life. One small misstep or simply bad timing could sometimes be life-changing \u2013 even fatal. The human body is more fragile than it seems.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tWe are often blindsided by things that we are unprepared for, simply because we choose to believe in the \u201cit will never happen to me\u201d fallacy.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tBut the truth is, tragedy can strike anyone, anytime and anywhere.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tWhat if you are the family\u2019s sole breadwinner? Have you ever thought about what might happen to your loved ones when you lose your ability to work and care for them?\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tWhat if illness strikes not you, but someone in your family? Do you have the finances to provide the best care for him or her?\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tUltimately, it is impossible to predict when misfortune will strike, so the best remedy is simply to be prepared. Having adequate insurance coverage for yourself and the ones you love will help you tide over life crises.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Are Singaporeans prepared enough?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThe Life Insurance Association\u2019s 2017 Protection Gap Study found that economically active individuals in Singapore have an approximate 40 percent mortality and critical illness gap totaling approximately S$893 billion.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tA more recent survey of over 500 people carried out by China Taiping Insurance (Singapore) re-leased in March this year drew a similar conclusion: The insurance coverage of most Singaporeans is less than ideal.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tAlmost one in four Singaporeans lacks either life or general insurance, leaving critical gaps in their coverage. One in every two Singaporeans lacks critical illness insurance, while almost one in three Singaporeans does not have health and hospitalisation insurance, or life protection insurance \u2014 some of the most crucial policies in one\u2019s portfolio.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThis might be explained by another finding from the same survey by China Taiping Insurance (Singapore) which revealed that more than half of the respondents felt they did not have sufficient knowledge of the insurance offerings available in the market.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tWith so many different insurance products in the market, and without knowing what each of them can do for your family, the process of picking the right insurance policy for yourself and your loved ones can seem daunting.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tBut it is worth making the effort to do so before it is too late \u2014 because there is no telling what life will throw at you. Ultimately, insurance isn\u2019t just about protection; it is an expression of love for your loved ones.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tChina Taiping Insurance (Singapore) offers both life and general insurance, ranging from life protection<\/a>, retirement<\/a>, savings<\/a>, motor insurance<\/a> and travel insurance<\/a>, to insurance for domestic helpers<\/a>.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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A gift across generations<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tA life insurance plan like China Taiping Insurance (Singapore)\u2019s Infinite Harvest (III)<\/a> (see below) can be a source of continuous monthly income for the second generation. When they turn 18, the policy can be transferred to their name, ensuring that they can be supported for life, even when you can\u2019t physically be there for them.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tAnd when the second generation eventually passes on, the third generation will receive a lump sum payout \u2014 ensuring your love will continue across generations.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tSo whether it is as a safety net for unforeseen circumstances, or to relieve financial burdens, insurance \u2014 at its core \u2014 is about caring for those who matter the most to you.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Most people go through fairly predictable stages in life: Graduation, marriage, raising a family and retirement. But rarely does life fall into place perfectly, as planned.A single accident can change the course of a person\u2019s life. One small misstep or simply bad timing could sometimes be life-changing \u2013 even fatal. The human body is more […]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"template":"elementor_theme","meta":{"_acf_changed":false,"ocean_post_layout":"full-width","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"on","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","_links_to":"","_links_to_target":""},"class_list":["post-13083","financial-articles","type-financial-articles","status-publish","hentry","entry"],"acf":[],"yoast_head":"\nSunday Times - Are you and your family prepared for the future? 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