This statistic depicts the average value of critical illness insurance coverage in Singapore in 2017, by gender and age group. In that year, the average critical illness insurance coverage per policy was around ****** thousand Singapore dollars for females aged between 30 to 34 years.

Invasive pneumococcal infection is a major cause of morbidity and mortality worldwide despite the availability of pneumococcal vaccines. The aim of this study was to re-evaluate the clinical syndromes, prognostic factors and outcomes for pneumococcal disease in adults and children in Singapore during the period before and after the introduction of the pneumococcal vaccine. We retrospectively analyzed a large cohort of patients admitted to the four main public hospitals in Singapore with S. pneumoniae infection between 1997 and 2013. A total of 889 (64% of all isolates identified in the clinical laboratories) cases were included in the analysis; 561 (63.1%) were adult (≥16 years) cases with a median age of 62 years and 328 (36.9%) were paediatric cases with a median age of 3 years. Bacteraemic pneumonia was the most common syndrome in both groups (69.3% vs. 44.2%), followed by primary bacteraemia without pneumonia (14.3% vs. 13.4%), meningitis (6.4% vs. 7.6%) and non-bacteraemic pneumonia (5.2% vs. 21%). The major serotypes in adults were 3, 4, 6B, 14, 19F and 23F whereas in children they were 14, 6B and 19F, accounting both for nearly half of pneumococcal disease cases. No particular serotype was associated with mortality or severity of the pneumococcal disease. Overall mortality rate was 18.5% in adults and 3% in children. Risk factors for mortality included acute cardiac events in adults, meningitis in children and critical illness and bilateral pulmonary infiltrates in both adults and children. Penicillin resistance was not associated with increased mortality. Our results agree with global reports that the course of pneumococcal disease and its clinical outcome were more severe in adults than in children. The main serotypes causing invasive disease were mostly covered by the vaccines in use. The high mortality rates reflect an urgent need to increase vaccination coverage in both adults and children to tackle this vaccine-preventable infection.

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Singapore Life Annuity Insurance Market Size and Trends

The Singapore life annuity insurance market size is forecast to increase by USD 603.3 million, at a CAGR of 3.4% between 2023 and 2028. The market is experiencing significant growth due to several key factors. One major trend is the increasing demand for insurance policies that provide financial security during retirement. Fixed annuities, a popular type of life annuity, offer guaranteed income streams and tax advantages, making them an attractive option for individuals seeking to supplement their retirement savings. Agents and brokers play a crucial role in this market, as they help consumers navigate the complexities of annuity products and make informed decisions based on their unique financial situations. Another trend influencing the market is the growing awareness of the need for estate planning and long-term care expenses. Annuities can help address these concerns by providing a steady income stream and potential tax benefits. However, the market also faces challenges, such as the vulnerability of insurers to cybersecurity and the need to balance the desire for high returns with the risk of interest rate fluctuations. Despite these challenges, the market is expected to continue growing as more consumers seek reliable sources of retirement income.

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Life annuity insurance is a financial product that offers retirees a steady income stream during their retirement years. This type of insurance provides death benefits and long-term financial stability, making it an essential component of retirement planning for many individuals. In this article, we will discuss the role of life annuity insurance in securing financial security and explore the technology advancements that are enhancing the underwriting processes of financial institutions. Life annuity insurance is a type of permanent life insurance that provides policyholders with guaranteed income payments for the rest of their lives. There are three main types of life annuities: fixed annuities, variable annuities, and index-linked annuities. Fixed annuities offer a guaranteed rate of return, while variable annuities allow policyholders to invest in various financial instruments, and index-linked annuities offer returns based on the performance of a specific stock market index. The market is witnessing significant technological advancements, with data analytics and artificial intelligence (AI) playing a crucial role in enhancing underwriting processes. AI and machine learning algorithms are being used to analyze vast amounts of data, enabling insurers to assess risk more accurately and offer personalized pricing and product recommendations to policyholders.

Life annuity insurance offers several benefits, including death benefits, tax advantages, and long-term financial stability. Death benefits provide financial security to beneficiaries in the event of the policyholder's demise. Tax advantages, such as tax-free income and tax deferral, make life annuities an attractive option for wealthy individuals looking to minimize their tax liability. Additionally, the cash value accumulated in a life annuity can be used to pay for long-term care expenses or as collateral for loans. Life annuity insurance is an essential financial product for retirees seeking long-term financial stability and guaranteed income during retirement. With the advancements in technology, particularly in data analytics and AI, underwriting processes are becoming more efficient and accurate, enabling insurers to offer personalized pricing and product recommendations to policyholders. By understanding the benefits and types of life annuity insurance, individuals can make informed decisions about their retirement planning and secure their financial future.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Type

  Life (risk premium)
  Life (coinsurance)
  Accident and health
  Disability income
  Others


Distribution Channel

  Offline
  Online


Geography

  Singapore

By Type Insights

The life (risk premium) segment is estimated to witness significant growth during the forecast period. A life annuity is a contract between an individual and an insurer, where the insurer guarantees regular payments to a designated beneficiary upon the policyholder's death. Premiums may be paid in installments or as a single lump sum. Benefits can extend to cover expenses related to funeral services and other specified events, such as terminal or critical illness. Life insurance contracts are legally binding agreements, outlining the scope of covered events. Tax-related benefits, such as tax-free payouts and exemptions from inheritance and estate taxes, are significan

All results of this study are based on the datasets here.