SEE: 90% of Singapore high net worth individuals rely on insurance to for wealth and legacy planning, according to AIA and EY
Against this backdrop, female high net worth clients have been showing a “strong interest in acquiring knowledge about wealth accumulation and transfer,” observes Angeline Alexander who heads the high net worth and affluent customer segments at Prudential Singapore. She adds that these women have also been taking proactive steps to secure their financial future. For instance, the women surveyed have set an ambitious target of accumulating five times their current wealth ahead of their retirement. In line with this, the life insurer notes that nearly 8 in 10 or 76% of high net worth women have begun reviewing their financial plans with their wealth managers, asset managers and insurance specialists, since the pandemic hit.