Speaking at a media briefing on Tuesday, Nishith Majmundar, Deputy President of the Life Insurance Association, said there was a 2% drop in the life insurance industry to $1.97 billion in 1H2019 from $2.02 billion for 1H2018.
SINGAPORE (Aug 6): Fewer people are buying insurance in the wake of a slowing economy in both Singapore and around the world, a recent study by the Life Insurance Association found.
The Protection Gap Study also found that people in Singapore have a mortality gap of 20% and a critical illness protection gap of 80%.
