Is insurance dispensable when times are hard?

It is usually the first to go when policyholders are cash strapped; but the average Singaporean is typically already under-insured

Sat, Nov 28, 2020 - 5:50 AM

Vivien Angvivang@sph.com.sg

"The caveat is to bear in mind that cancelling a policy is a permanent decision whereas a recession is temporary." Naomi Chua, executive senior manager, Excelsior Financial Group

BT ILLUSTRATION: LEE YU HUI

CAUGHT between continuing to pay insurance premiums or forfeiting them to pump money into the business. That was the quagmire that Jessica Tan, owner of a food and beverage outlet, found herself in when the pandemic wiped out more than 90 per cent of her revenue.

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