Myth #1: Women are bigger worriers when it comes to travelling and tend to buy travel insurance more often than men.
False. Approximately the same percentage of women and men purchase Singlife's travel insurance.
Myth #2: Youngsters are more likely to live on the edge and travel without insurance.
False. In fact, with Singlife's travel insurance, travelers aged 30 and below actually form the largest group of our travel insurance customers compared to any other age bands.
Myth #3: Women are worse drivers than men and get into accidents more frequently.
Completely false! Our car insurance claims data shows that we have an equal number of accidents reported from both male and female policyholders.
Myth #4: Males are more willing to take risks when it comes to investments than females.
True. Singlife with Aviva's Consumer Attitudes to Saving (Nov 2014) revealed that 48% of Singaporean men are prepared to take on a higher risk in exchange for a potentially higher return. Only 34% of women are prepared to.
Myth #5: Retirement planning is something that youngsters wouldn't think about.
False. According to Singlife with Aviva's Consumer Attitudes to Saving (Nov 2014), 1 in 4 Singaporeans aged 18-24 have already started saving specifically for retirement. Of these forward-looking youngsters, 36% have a long-term savings plan in place with an insurer, and 40% are investing their money in stocks and bonds.
Footnotes
As of 1 January 2022, Aviva Singapore is now Singlife with Aviva.
