One in three Singaporeans do not have critical illness coverage. This is a key finding in the latest Health Matters Survey by insurer AIA Singapore.
SINGAPORE: One in three Singaporeans do not have critical illness coverage.
Of those who own a critical illness cover, close to half bought their critical illness insurance plan more than 10 years ago.
These are some of the key findings in the latest Health Matters Survey by insurer AIA Singapore.
Another big worry of those aged 60-70 - more than half do not own a critical illness plan and almost half would have to rely on their own savings, and on their salary to pay for their healthcare expenses.
The survey also found that more than one-third of Singaporeans believe that they will need to downgrade their standard of living should they be affected by critical illness in future.
The survey of 508 adults aged between 40 and 70 is designed to understand the common health conditions and concerns experienced by seniors in Singapore and their financial preparedness to meet their healthcare needs.
Singapore's population is ageing rapidly, with the median age of its citizens expected to shift from 39 years in 2010, to 55 years in 2050.
The average life expectancy is set to be 82 - one of the highest in the world.
"While our government is expected to triple healthcare spending to S$12 billion a year by 2020 to help Singaporeans with rising healthcare cost, it is also our joint responsibility to ensure that we are financially prepared to maintain the well-being of our family.
“Having critical illness coverage is important to ensure your hard-earned savings is not depleted in the event of critical illness, and you will not need to downgrade your living standards, postpone your retirement or burden your loved ones," said Ho Lee Yen, Chief Marketing Officer, AIA Singapore.
The survey also studied the health conditions and concerns of older Singaporeans.
It found that 69 per cent of the participants polled have at least one health condition.
These include common conditions such as high cholesterol, bone, joint and muscle problem, obesity, hypertension and diabetes.
In addition, they are most concerned about contracting cancer, heart attack/disease and stroke.
According to a recent article, the number of people diagnosed with cancer increased by nearly 15 per cent - from 10,576 in 2008 to 12,123 in 2012.
Concerned about their health, almost all older Singaporeans with a health condition are managing it with at least one activity.
54 per cent are engaged in at least three activities to manage their condition.
http://www.channelnewsasia.com/news/singapore/older-s-poreans-not/1078360.html
SINGAPORE: One in three Singaporeans do not have critical illness coverage.
Of those who own a critical illness cover, close to half bought their critical illness insurance plan more than 10 years ago.
These are some of the key findings in the latest Health Matters Survey by insurer AIA Singapore.
Another big worry of those aged 60-70 - more than half do not own a critical illness plan and almost half would have to rely on their own savings, and on their salary to pay for their healthcare expenses.
The survey also found that more than one-third of Singaporeans believe that they will need to downgrade their standard of living should they be affected by critical illness in future.
The survey of 508 adults aged between 40 and 70 is designed to understand the common health conditions and concerns experienced by seniors in Singapore and their financial preparedness to meet their healthcare needs.
Singapore's population is ageing rapidly, with the median age of its citizens expected to shift from 39 years in 2010, to 55 years in 2050.
The average life expectancy is set to be 82 - one of the highest in the world.
"While our government is expected to triple healthcare spending to S$12 billion a year by 2020 to help Singaporeans with rising healthcare cost, it is also our joint responsibility to ensure that we are financially prepared to maintain the well-being of our family.
“Having critical illness coverage is important to ensure your hard-earned savings is not depleted in the event of critical illness, and you will not need to downgrade your living standards, postpone your retirement or burden your loved ones," said Ho Lee Yen, Chief Marketing Officer, AIA Singapore.
The survey also studied the health conditions and concerns of older Singaporeans.
It found that 69 per cent of the participants polled have at least one health condition.
These include common conditions such as high cholesterol, bone, joint and muscle problem, obesity, hypertension and diabetes.
In addition, they are most concerned about contracting cancer, heart attack/disease and stroke.
According to a recent article, the number of people diagnosed with cancer increased by nearly 15 per cent - from 10,576 in 2008 to 12,123 in 2012.
Concerned about their health, almost all older Singaporeans with a health condition are managing it with at least one activity.
54 per cent are engaged in at least three activities to manage their condition.
http://www.channelnewsasia.com/news/singapore/older-s-poreans-not/1078360.html
