More than half of S’poreans not sufficiently insured: Survey

ALL content used in this not-for-profit blog remain the property of their respective owners.
http://www.todayonline.com/singapore/more-half-sporeans-not-sufficiently-insured-survey

More than half of Singaporeans do not have enough insurance and a third do not know they are covered by Medishield.

These are preliminary findings from a recent survey by national financial education programme MoneySENSE, involving 2,000 Singaporeans from April to October 2013.

The survey had positive findings about Singaporeans’ saving habits though.

80 per cent of those surveyed said they put aside some money each month, while 86 per cent do not like taking on debts.

But overspending is still a problem and a key issue is reckless credit card spending.

In September, the Monetary Authority of Singapore announced sweeping new rules for credit cards and other unsecured loans.

They include a limit on the total amount a person can charge to all of his or her credit cards — at 12 months’ income. This limit could be further tightened.