For a start, do you even know what Insurance is?
How does Insurance come about?
What is Risk Management?
Risk pooling is the fundamental concept on which insurance is based on. The insured pay premiums, which goes into a shared pool, and they receive a payout if the event they wish to be insured against (whether it is an accident, critical illness, or death) occurs.
A transfer of risk, considered the underlying tenet of insurance transactions, is a risk management technique where risk shifts from one party to another. Risks may transfer between individuals, from individuals to insurance companies, or from insurers to reinsurers
No Holding Back With Insurance
Watch this to find out how you can keep your money safe from unforeseen events.
Credits: Temasek
When you’re young and naive and believe that everything will work out somehow, it’s pretty hard to imagine ever needing to buy insurance. Yet, getting your insurance portfolio in order is probably one of the best things we Singaporeans can do for our finances. And in fact, it’s best to do it while you’re young and healthy.
Did you know that there are not 1, not 2, but over 20 different types of insurance? The most common types that we would know about are:
Financial Planning Is Not Just About Insurance
Most Important Types of Insurance
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