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Singapore wealthy tap insurance for wealth and legacy planning: study
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Genevieve Cua
Published Tue, Jun 23, 2020 · 09:50 PM
Singapore
INSURANCE as an instrument for wealth and legacy planning is far more widely used among Singapore high net worth individuals than in other markets, a joint report by AIA and EY has found.
The report found that for 70 per cent of HNW respondents in Singapore (compared to 52 per cent of their peers in Asia), insurance comprises over 10 per cent of their wealth and legacy planning. Seventy-eight per cent of Singapore respondents also believe that insurance plays a significant role in creating and preserving wealth.
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