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Singaporeans flock to retirement policies amid longer life expectancy, increased chronic illnesses

Amala Balakrishner
Amala Balakrishner11/7/2019 08:18 PM GMT+08  • 2 min read
Singaporeans flock to retirement policies amid longer life expectancy, increased chronic illnesses
SINGAPORE (Nov 7): There has been a significant uptake in the number of retirement policies in Singapore in the first nine months of 2019, according to data released Thursday by the Life Insurance Association, Singapore (LIA Singapore).
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SINGAPORE (Nov 7): There has been a significant uptake in the number of retirement policies in Singapore in the first nine months of 2019, according to data released Thursday by the Life Insurance Association, Singapore (LIA Singapore).

As at end-September, the number of retirement policies purchased surged 57% y-o-y to 38,622. Weighted premiums for retirement policies in 9M19 came up to $356 million, accounting for 12% of total weighted premiums in the period.

The increased uptake of retirement policies among Singaporeans comes amid increasing longevity and exposure to chronic illnesses.

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