Hi
The Monetary Authority of Singapore (MAS), in conjunction with the Association of Banks in Singapore (ABS), Association of Financial Advisers (Singapore) (AFAS) and Life Insurance Association (LIA), has launched a Basic Financial Planning Guide to help Singaporeans take steps to enhance their financial well-being.
This is how much insurance you need according to the financial planning guide:
Obtain insurance protection of
- 9 times annual income for death and total and permanent disability.
- 4 times annual income for critical illness.
Do you have at least these coverages? Do you agree?
Of course, these are rules of thumb. Do speak with a professional adviser as everyone's needs differs.
Check this out
We interviewed the President of IFPAS!
Learn more about IFPAS and what it does for the financial services industry, practitioners and consumers here: https://moneyplayschool.com/interview-with-ifpas-president/
Success Always,
Founding Editor
Money Playschool
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