I got a shock when I read that 86% of those surveyed by Citi Financial Quotient Survey 2010 that they intend to use whole life insurance for retirement funding! According to the Today Online 'Most say CPF savings not enough' 2 Feb 2011,
"Singaporeans are turning to alternative means to take them through their silver years. These include proceeds from investment and insurance products. The most popular product is whole life insurance, with about 86 per cent of respondents holding or intending to purchase this product. The next most popular is the endowment plan."
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