Singapore's Critical Illness Protection Gap Narrows While Mortality Protection Gap Remains Relatively Unchanged: Protection Gap Study 2022
- Platform Workers found to have bigger protection gaps compared to the general Economically Active population
- Life Insurance Industry commits to spearheading efforts to narrow the protection gap in Singapore
SINGAPORE - Media OutReach - 8 September 2023 - The Life Insurance Association, Singapore (LIA Singapore) today unveiled findings of the Protection Gap Study (PGS) 2022 which found that economically active1 (EA) Singaporeans and Permanent Residents in Singapore – including Platform Workers (PWs) - had a S$373 billion mortality protection gap2 and a S$579 billion critical illness (CI) protection gap3.