According to the Life Insurance Association (LIA), close to 42% of Singaporeans and Permanent Residents (PRs) aged between 20 and 34 do not have a single life insurance or critical illness policy. This infographic from AIA illustrates examples of how insurance coverage gaps look like, which you can refer to and calculate your own coverage gap.


The cost of healthcare is rising in Singapore. While this is not surprising, the rate at which it is increasing can be worrying.

According to the Singapore Department of Statistics, the cost of Medical & Dental Treatment has risen nearly 78% in the last 20 years, or more than 2.9% per annum. This is almost double the 20-year inflation rate of the MAS Core Inflation Measure, which is 1.5% per annum.

Further, the Ministry of Health (MOH) recently revealed statistics which showed that between 2007 and 2017, private healthcare costs increased by 9.0% per annum, rising at a rate almost double that of public hospitals.

The Singapore Government is playing an active role in ensuring affordable healthcare

On the back of this, the Singapore government has been playing an active role in the health insurance and healthcare sectors to moderate the unsustainable rise in costs.


Most recently, the MOH released a comprehensive surgeon fee benchmarks for 222 common surgical procedures at private hospitals. This is to empower patients to understand how much they are being charged compared to the recommended surgeon fee for their treatment. For doctors in private hospitals, they can now refer to the recommended benchmark and will have to explain why their fees are higher if they are charging more.

Earlier this year, the government also announced the removal of full riders for Integrated Shield Plans (IPs), which means you can no longer purchase full rider coverage for your entire hospitals bills. Going forward, policyholders will need to co-pay part of their hospitalisation bills, ensuring that they would at least be partially responsible in monitoring their types and costs of their treatments.