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Making Bank

Insuring yourself before the rain comes

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Yong Jun Yuan

Yong Jun Yuan

Published Mon, Jul 4, 2022 · 05:50 AM
    • In the face of soaring inflation rates, rising interest rates and potentially weakening economic growth, we ought to take a closer look at our insurance coverage.
    • In the face of soaring inflation rates, rising interest rates and potentially weakening economic growth, we ought to take a closer look at our insurance coverage. PHOTO: EPA-EFE

    WHEN the 2008 global financial crisis hit, the biggest challenge in my life then was the Primary School Leaving Examination. I remember rushing to do mock math papers in a bid to master every “tricky question” examiners could throw at us.

    Many of us Gen Zs and younger millennials may have been oblivious to how our parents tightened their belts when inflation rates ranged between 5 and 8 per cent year-on-year in 2008.

    Yet we face similar challenges today, with headline inflation hitting 5.6 per cent in May this year.

    InsuranceSingapore inflationRecessionMaking Bank

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