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The Protection Gap

Y* + LIVE HEALTHIER, BETTER AND LONGER In Singapore, people are living longer than ever before. However, as we live longer health risks increase and, in order for us to enjoy the years ahead, it's important to follow healthy behaviours and ensure we and our family have support when we need it the most. I1 NOT ONLY WISDOM COMES WITH AGE DID YOU KNOW? People in Singapore are living longer than ever. 80,84 Average life expectancy Male Female Average life expectancy years A 9% years UP UP up from 73 in 1990 7% up from 78 in 1990 But the health risks are also greater. KNOW THE RISKS Top 5 causes of death in Singapore in 2011. CANCER 28.5% HEART DISEASE 23.5% A PNEUMONIA 15.7% These make up 79% STROKE 8.4% of all deaths LUNG DISEASE 2.5% HEART DISEASE KILLED #2 THE TOP 3 KILLERS: 3,846 IN 2011 CANCER KILLED PNEUMONIA KILLED #1 #3 5,382 2,860 IN 2011 IN 2011 KNOW THE COSTS Understanding the costs today and tomorrow. AVERAGE COST OF TREATMENT Y S$30,000 Average cost of treating the top five diseases: S$25,000 S$11,126 S$20,000 S$15,000 S$10,000 S$5,000 CANCER: S$12.538 PNEUMONIA: S$Z.000 AVERAGE COST OF A WARD What it could cost in 10 years. S$400 Projected costs S$350 2-Bed Ward, S$350 Private Hospital 138% ----------- INCREASE S$300 S$253 S$250 S$225 B1 Ward, Public Hospital S$181 124% S$200 INCREASE S$150 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 year By 2022, an average B1 ward will cost By 2022, an average 2-Bed ward will cost : 124% 138% of what it costs today of what it costs today 02 THE PROTECTION GAP Making sure you have support when you need it most helps ease the burden of healthcare costs on you and your loved ones. Understanding your needs is the first step in choosing the right options for you and your family. INSURANCE OR INVESTMENT? A recent study revealed that Singaporeans prefer SHORT -TERM RETURNS over LONGOTERM PROTECTION KNOW THE FACTS MYTH: INSURANCE IS TOO EXPENSIVE 1 in 2 SINGAPOREANS think that insurance is too expensive. THE TRUTH It works out to less than S$6.50 a day. for S$650,000 of coverage (which is less than the cost of a fast food meal.) PROTECTION GAP The average annual income for a working adult in Singapore is S$65,000. S$65,000 Average Annual Income 80% of Singaporeans have a total sum assured of less than S$325,000. S$325,000 According to an independent study. rule of thumb is to have 10x annual earnings as basic life cover, so the average working adult needs S$650,000 of coverage. S$650,000 Recommended Life Insurance Coverage HENCE, THE PROTECTION GAP S$242,520 S$325,000 S$650,000 Average Coverage of Working Adult Recommended Coverage 03 SIMPLE TOOLS FOR HEALTHY LIVING KNOW YOUR OPTIONS Take time to understand what your current coverage is and consider speaking to your insurance planner to make sure you and your loved ones are adequately protected. TALK TO YOUR LOVED ONES Talk to your family and friends about how a healthy lifestyle can help reduce the risk of critical illness. And motivate each other to reach your goals together. LIVE A HEALTHY LIFESTYLE Live Great: Get access to ELIVE GREAT PROGRAMME LIVE GREAT health tips, articles, wellness livegreat.greateasternlife.com WELLNESS TOOLS HEALTH TIPS MOBILE APPS WORKSHOPS & EVENTS EXCLUSIVE PRIVILEGES tools and exclusive deals. livegreat.greateasternlife.com DID YOU KNOW? Moderate excercise leads to Smoking a pack of cigarettes a day leads to 27-41% 10x reduction in risk of heart disease. increase in risk of lung cancer. Use the Exercise Calorie Calculator on the Live Great GG Use the Smoking Tracker on the Live Great portal to monitor your smoking habits and quit once and for all. portal to find out how many calories you have worked off. 466.231 Research reveals that fat around the midsection is a major risk factor for: Type II Diabetes, Heart Disease Hypertension, Stroke, Cancer and even Dementia. are obese in Singapore. That's 1 in 9 Singaporeans. Use the Waist-To-Hip Ratio Calculator on the Live Great portal to determine your fat distribution and tackle the problem areas head on. Use the Body Mass Index Calculator on the Live Great portal to estimate your desired weight and work towards it. 10-20% Backpacks that weigh more than A can of soft drink has -10 of your body weight could lead to long term back and shoulder complications. teaspoons of sugar in it. Use the Safe Backpack Weight Calculator on the Live Great portal to avoid backpack injuries. Use the Liquid Calorie Calculator on the Live Great portal to find out the calorie content of your beverages. Log on to livegreat.greateasternlife.com to enjoy the benefits and privileges today. As a life company, your financial and physical well-being are of the utmost importance to us. In the face of evolving illnesses and rising healthcare costs, we want to help you find the Programme is tailored specifically to your needs, offering exclusive health and wellness privileges that aim to improve your quality of life. Great Eastern Life is Great way forward with your family. Our Live Great brought to you by A member of the OCBC Group Sources Life expectancy: http://www.sgpolitics.net/?p=7418 Top 5 critical illnesses: http://www.moh.gov.sg/content/moh_web/home/statistics/Health_Facts_Singapore/Principal_Causes_of_Death.html Number of people killed by the illnesses: http://www.ica.gov.sg/page.aspx?pageid=369 COST OF TREATMENT - Lung cancer: http://www.singaporefinancialplanners.com/page.asp?valuet=2 Heart failure: same. above Pneumonia: httpc//silverage-sg.blogspot.sg/2010/11/curbing-pneumonia.html Stroke: http://www.ncbi.nlm.nih.gov/pubmed/18705915 Lung disease: http://www.ttsh.com.sg/about-us/newsroom/news/article.aspx?id=3596 Rising hospitalization costs: Graphs provided by Great Eastern Young people would rather invest: http://www.channelnewsasia.com/stories/singaporelocalnews/view/1094477/1/.html Coverage breakdown: http://www.financialadvisercareer.com/sg/singapore/career/singapore-fa-landscape/insurance-business-saturated-then-why-are-singaporeans-underinsured Rule of thumb: http://www.lia.org.sg/consumers/faq Smoking risks: http://www.stop-smoking-programs.org/lung-cancer.html Moderate exercise: http://www.creators.com/health/david-lipschitz-lifelong-health/study-shows-how-exercise-reduces-heart-disease-risk.html Backpacks: http//pediatrics.about.com/cs/safetyfirstaid/l/aa090202a.htm Coke sugar content: http://www.sugarstacks.com/beverages.htm 1 in 9 obese: http://www.cfps.org.sg/sfp/38/381/SFP%20Vol38(1).Unit1.pdf Singapore census 2010: http://www.singstat.gov.sg/pubn/popn/c2010acr.pdf Mid-section fat: http://www.rejuvalife.md/drblog/the-risks-of-mid-section-fat-besides-the-muffintop/ HEART FAILURE: S$27.309 STROKE: S$6.267 LUNG DISEASE: S$2,519 Gllm

The Protection Gap

shared by GreatEastern on Jan 10
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An Infographic about the Singapore Protection Gap, brought to you by Great Eastern Life Singapore. Did you know that most Singaporeans are under-insured and yet they are completely unaware of the i...

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