Prioritise Coverage

The average Singaporean is massively underinsured.  Even in light of the pandemic, where there is greater awareness of the need for critical illness coverage, there is much that needs to be done to comprehensively bridge that gap.  One of the problems is that Singaporeans think of coverage as a cost first, and not security.  This means insurance premiums are among the first expenses dropped in a cash crunch, or liquidity crisis.  There is this mistaken notion that coverage dropped is easily replaced, without consideration of mortality charges, preexisting conditions, and premium inflation.  Coverage reduced can be increased.  Coverage lost may not always be reinstated.