A recent poll by Prudential Singapore has uncovered that fewer than one in three Singaporeans have sufficient savings to support themselves during a prolonged recovery from a critical illness (CI). The survey, conducted between June and July 2026, involved 1,000 Singapore residents aged 18 to 55 and highlighted significant financial vulnerabilities during what Prudential terms “health gap years”—periods when individuals cannot work due to illness.
The findings reveal that 67% of Singaporeans expect recovery from a severe-stage CI to take over a year, yet only 29% have savings to cover household expenses for that duration without income. Furthermore, 64% estimate needing more than $146,000 (S$200,000) for recovery, underscoring the financial strain such illnesses can impose.
Chief Health & Protection Officer at Prudential Singapore, Manu Tandon, emphasised the broader implications of CI, stating, “Critical illness is not merely a medical episode. It can have far-reaching emotional, financial, and physical implications for patients and their families.”
The poll also highlighted that caregiving costs are a significant concern, with 72% of respondents identifying financial support as crucial for caregivers. However, only 13% believe their household savings would suffice if a caregiver had to stop working.
Despite more than half of the respondents owning a CI plan, only 20% feel confident in their coverage. Tandon noted the importance of regular reviews with financial representatives to ensure adequate protection, as consumer awareness does not always equate to financial security.
The study aligns with the Life Insurance Association’s 2022 Protection Gap Study, which reported a 74% CI protection gap, indicating a widespread lack of sufficient coverage among Singaporeans.
