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Prudential Singapore launches protection plan to help families navigate their health gap years
As Singaporeans see higher incidences of critical illness (e.g. almost 58 per cent increase in stroke patients from 2011 to 2021[1]), many families will experience a serious health episode and the affected family member may be unable to work during their recovery. During this ‘health gap’ period, the resulting income loss creates a strain on household finances, along with additional costs to care for the patient at home.
Many Singaporean households remain unprepared to deal with such a scenario. According to the 2022 Protection Gap Study by the Life Insurance Association of Singapore, there is a 74 per cent protection gap[2] against critical illnesses such as cancer[3], stroke[1], and heart disease[4]. This gap is especially challenging for young families raising children and the sandwich generation caring for both children and ageing parents.
Insurance plans play different roles in supporting families during a serious health event. While hospitalisation insurance covers eligible hospital and treatment bills, critical illness plans pay a lump sum upon diagnosis and families have the flexibility to decide how they want to use the payout.
Ms Toni Fung, Chief Customer and Marketing Officer, Prudential Singapore, said: “Many families think that hospitalisation coverage is sufficient when a serious illness strikes and may overlook the wider financial impact on the household. For young families and the sandwich generation, a critical illness can disrupt income and add caregiving responsibilities that impact household finances. Critical illness coverage is therefore not just personal protection, but family protection, as it provides a lump-sum payout to take care of these additional costs.
“Families should consider critical illness protection early to ensure they have a safety net in place and the peace of mind to focus on recovery during their health gap years. With PRUActive Life V, families have access to a comprehensive protection plan that stands firmly behind them for life, even when the unexpected happens.”
Protection for families during their health gap years
PRUActive Life V, alongside its critical illness add-ons, provides whole life coverage for death, terminal illness, total and permanent disability and critical illnesses. It covers a wide range of 182 conditions ranging from cancer to accidental fracture of spinal column and includes additional payouts for 27 medical conditions e.g. mental illness and juvenile conditions[5].
Families may enhance their coverage up to five times (Multiplier Benefit[6]) up until age 80, to scale protection in tandem with their growing household income and caregiving commitments. There is also Kinship Booster[7], a 10 per cent boost in basic coverage for free when an immediate family member takes up PRUActive Life V.
Besides young families, critical illness protection is also important for singles with caregiving responsibilities for other family members such as elderly parents or siblings. A serious illness can disrupt their ability to work and continue supporting those who depend on them financially or for care.
Added Ms Fung: “Singles may face added pressure on their personal finances and family obligations during a prolonged period of rest as they do not have a spouse to share the burden. Critical illness coverage becomes an important safeguard to help them stay financially resilient while managing their caregiving responsibilities.”
Understanding the hidden costs of health gap years
Families can face significant financial strain when they take time off to recover from a critical illness. In Singapore, a family with young children has an average monthly household income and expenditure of $21,435 and $8,577 respectively.
Consider a 35-year-old father with two young children who contributes $15,000 to the monthly household income. When he suffers a stroke, the father pauses work and that results in a loss in income. Table A outlines additional ‘hidden’ costs[8] that he may face during his health break.
Ms Fung highlighted: “Many families underestimate the significant financial cost of recovery during their health gap years, which can be as much as 3.9 times[9] of one’s annual income based on the assumption of a five-year recovery period. Apart from the disruption to income, families may face ‘hidden’ costs such as caregiving arrangements, home modifications and therapies, as well as the longer-term reality that their insurance options may become limited after a serious illness. These hidden expenses will continue to accumulate and place added pressure to household finances.”
| # | Examples of ‘hidden’ costs[7] during health gap years |
| 1. | Caregiving support e.g. salary of a foreign domestic worker or day nurse, or enrolment in a day care centre |
| 2. | Caregiver impact e.g. caregivers/family having to take no-pay leave, paying for convenience services such as meal delivery or childcare help, and mental load |
| 3. | Home modifications to support changes in patient’s mobility and motor skills |
| 4. | Therapy e.g. physiotherapy, occupational therapy, speech therapy, emotional counselling, Traditional Chinese Medicine etc. |
| 5. | Costly drugs and alternative treatments |
| 6. | Unforeseen expenses which might come up due to complications arising from the diagnosed critical illness |
Table A: Hidden costs of health gap years
PRUActive Life V provides families with comprehensive protection against critical illness to manage financial uncertainties during their health gap years.
Other key features include:
For more information on PRUActive Life V, please refer to: https://www.prudential.com.sg/pal-v
[3] Source: https://www.healthhub.sg/well-being-and-lifestyle/personal-care/cancer-facts-you-cannot-ignore
[5] Includes Antley Bixler Syndrome, Sanfillipo Syndrome, Bile acid synthesis disorder, and Pyruvate Dehydrogenase Complex Deficiency
[6] Multiplier Benefit is applicable only if you chose to have this benefit when you purchase the plan. You may choose from Multiplier Benefit factors of 2x, 3x, 4x or 5x and Multiplier Benefit ages of 65, 70, 75 or 80. The Multiplier Benefit factor and the Multiplier Benefit age will apply to PRUActive Life V and its attached Early Crisis Care and Crisis Care supplementary benefits.
[7] Only applies if the life assured is below age 55 when the immediate family bought the policy. It adds an extra 10% of the death and terminal illness sum assured of the life assured’s policy, up to S$100,000.
[8] References: https://www.snsa.org.sg/post/helpful-information-for-stroke-survivors-and-caregivers; https://edge.sitecorecloud.io/agencyforinb6cc-agencyforin73f5-production08ac-d178/media/agency-for-integrated-care/Files/Caregiving-Support/General-Caregiving-Resources/AIC_AB_Senior-MobilityAids_web.pdf
[9] Source: https://www.lia.org.sg/media/3974/lia-pgs-2022-report_final_8-sep-2023.pdf
[10] The income payout option allows you to receive yearly payouts from the surrender value of the policy over a period of 10 years. As such, this option is like partial surrender. Please note that once you begin receiving the yearly payouts, the sum assured and the long-term value of your policy will be reduced.
[11] Subject to a maximum of 1 claim per policy
[12] This benefit is only available when your policy has acquired a surrender value that is equal to at least two years’ of premiums paid. This interest-free loan amount needs to be paid back at the end of the premium deferment period. If the loan amount is not paid back at the end of the premium deferment period, interest will be charged. The Premium Defer Benefit can only be used once per policy.
[13] The bonuses are NOT guaranteed and will vary according to the future experience of the participating fund.
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About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)
Prudential Assurance Company Singapore (Pte) Ltd is one of the top life and health insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 95 years. As at 31 December 2024, it has S$57.7 billion funds under management. The company has an AA Financial Strength Rating from leading credit rating agency Standard & Poor’s and delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of 5,400 financial representatives.
Air Corporate data reveals 9 in 10 founders incorporated in Hong Kong do so remotely, driven by a 20% surge in Middle Eastern entrepreneurs seeking cost-effective operational alternatives to Dubai.
HONG KONG SAR – Media OutReach Newswire – 15 May 2026 – Air Corporate registered a 40.5% increase in Hong Kong incorporations in 2025, with the first quarter of 2026 already up 48% year-over-year. This data indicates that Hong Kong is reasserting itself as the leading Asian jurisdiction for company formation, fueled by a new wave of remote founders from the Middle East, North Africa, and Europe.
The prevailing narrative over the past five years suggested that Singapore was eclipsing Hong Kong; however, recent incorporation volumes challenge this. According to city-wide official figures cited by Vivian, Founder of Air Corporate, approximately 195,000 companies were registered in Hong Kong in 2025, compared to around 77,000 in Singapore.
“There was a lot of fuss about Singapore taking over Hong Kong as preferred jurisdiction over the last few years, but for 2025 alone, around 195,000 companies were formed in HK, vs around 77,000 for Singapore,” said Vivian. While city-wide registrations rose roughly 35% in 2025, incorporations at Air Corporate specifically grew by 40.5%. Vivian added, “With a 35% increase in the number of companies registered in 2025, Hong Kong is definitely back in the game as the top jurisdiction to start a company.”
The reality of Hong Kong company formation is increasingly global, lean, and founder-led. Nine in ten founders incorporated in Hong Kong with Air Corporate do not live there.
Key demographic and operational insights from Air Corporate’s client base include:
- Approximately 90% of founders operate remotely from abroad, while 10% or less are based in Hong Kong.
- Entrepreneurs aged 35 to 44 represent the largest age cohort at 38%, demonstrating that Hong Kong attracts founders in their prime career years rather than just younger digital nomads.
- Serial entrepreneurs make up 60% of Air Corporate’s client mix, utilizing Hong Kong as an operational base for multiple companies, while first-time founders account for the remaining 40%.
- A total of 89% of new companies are launched by solo founders (58%) or small teams of two to five individuals (31%).
- Mainland China, Hong Kong, Turkey, India, the UAE, Australia, France, and Morocco rank among the top source markets for these founders.
Furthermore, 73% of new Hong Kong incorporations are directly tied to physical goods trade with China. This consists of e-commerce and dropshipping businesses (38%) and the trading of goods (35%). The recovery of in-person trade flows, including events, such as the Canton Fair and various industrial fairs, is pulling foreign founders back into the Greater China orbit and establishing Hong Kong as the natural entry point and financial layer over the world’s largest manufacturing base.
Air Corporate’s data recorded a 20% year-over-year growth in founders originating from the Middle East. This shift highlights a reverse migration where founders previously incorporated in Dubai are now choosing Hong Kong. Based on Vivian’s observations, founders often arrive in Dubai expecting fast incorporation and low costs, but discover that incorporation and maintenance are significantly more expensive than in Hong Kong, and banking remains difficult. Consequently, many founders move to Hong Kong after 12 to 24 months in the UAE, a trend accelerated by the Hong Kong government’s strategic outreach to the region.
For lean, remote-first businesses, speed-to-market is a critical factor. A founder located anywhere in the world can incorporate in Hong Kong and open a working bank account in approximately 7 days using digital banking partners. Currently, 90% of Air Corporate’s clients utilize these digital banking partners.
“Hong Kong and Singapore are the only places in Asia where you can set up your company, get a corporate account, and be in business in less than a week,” concluded Vivian.
Air Corporate is a service provider facilitating company formation and incorporation in Hong Kong for serial entrepreneurs, first-time founders, and remote-first business owners operating globally.
Media Inquiries
To learn more about Hong Kong company formation, visit Air Corporate’s website or contact their team directly.
Hashtag: #AirCorporate
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Media OutReach
Natural Diamonds Sparkle on The Red Carpet at The 2026 Met Gala Celebrating “Costume Art”
Today’s biggest stars express individuality and confidence with natural diamonds
NEW YORK, US – Media OutReach Newswire – 15 May 2026 – The 2026 Met Gala celebrating “Costume Art” took place May 4th at the Metropolitan Museum of Art in New York City, bringing together leading figures from across the globe for an unforgettable evening. These tastemakers showcased the most classic, refined and distinctive diamond jewelry looks of the season. Below, A Diamond is Forever highlights the standout trends from the event.
Desert diamonds
Desert diamonds emerged as a striking throughline on the Met Gala carpet, with a range of hues in distinctive settings taking focus.
Rihanna led the trend in a pair of exceptionally rare old Moghul Golconda fancy brown-yellow diamond earrings by Glenn Spiro, featuring two pear-shaped natural diamonds totaling 51.9 carats. Doja Cat offset her all nude look with a pair of large Leviev Diamonds floral-shaped earrings while Paloma Elsesser made a statement in a 29.5-carat diamond necklace by Bernard James, centered around a 15-carat fancy light yellow pear-shaped natural diamond. Cara Delevingne wore a De Beers London Forces of Nature High Jewelry ring, featuring marquise yellow diamonds set as eyes, while Emma Chamberlain opted for yellow and white diamond earrings by Chopard, underscoring the continued allure of warm diamond hues.
Magnificent Diamond Earrings
A wide variety of captivating silhouettes defined the natural diamond earrings on the Met Gala carpet. Zoë Kravitz delivered a modern twist with oversized diamond flower earrings by Jessica McCormack. Chase Sui Wonders opted for Jean Schlumberger by Tiffany & Co. Sea Fan earrings, bringing an element of sculptural artistry to the look. Gracie Abrams selected gently dangling Chanel earrings, adding understated fluidity, while Connor Storrie selected simple hoop earrings from Tiffany & Co., reinforcing the clean and enduring appeal of natural diamonds.
Standout Diamond Moments
Natural diamonds appeared in personal, unconventional and eye-catching ways, offering moments of surprise and awe. Power couple Beyoncé and Jay-Z embodied this trend with Beyoncé wearing Chopard’s Queen of Kalahari necklace, named after the rare 342-carat diamond that provided 23 stones for Chopard’s Garden of Kalahari collection. Jay-Z contributed to the narrative with a vintage diamond brooch by Briony Raymond worn at the collar as an unexpected placement that underscored the piece’s versatility. Isha Ambani made the styling of diamonds an art form in itself, wearing her own diamond jewelry featuring approximately 150 carats of old mine-cut diamonds, including a three-strand necklace and chandelier earrings, while also incorporating diamonds sewn directly into the bodice of her sari to represent significant moments in her life.
Together, these looks highlighted a shift toward natural diamonds as vessels of personal expression, styled with intention, individuality, and a sense of the unexpected.
Hashtag: #MetGala #RedCarpet #ADiamondisForever #NaturalDiamonds #Diamonds
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Media OutReach
Turn Your Savings into a Front-Row Experience: HL Bank Singapore Offers Exclusive Passes to AsiaTop Music Festival 2026
The premier music festival will play host to 16 K-pop, regional and Malaysian stars including, in performance order: Day 1 – NexT1DE, Aina Abdul, Belle Sisoski, Win Metawin, NMIXX, WINNER, DAESUNG, KUN. Day 2 – Uriah See, Firdhaus, Butterbear, 82MAJOR, STAYC, CRAVITY, TWS, CxM
SINGAPORE – Media OutReach Newswire – 14 May 2026 – Your next major K-pop experience is just a savings goal away as HL Bank Singapore (“HLB Singapore”) bridges the gap between financial wellness and the front row. In an exclusive collaboration designed for the ultimate music enthusiast, the bank is offering fans the chance to secure a pair of sought-after AsiaTop Music Festival 2026 tickets, valued at up to RM1,098 (approx. S$355), simply by growing their wealth.
This unique initiative stems from the regional synergy between Hong Leong Bank (“HLB”) and Tencent Music Entertainment Group (JOOX and QQ Music). By aligning with Visit Malaysia Year and Visit Selangor Year 2026, HLB is transforming the traditional banking experience into a gateway for premium entertainment. Scheduled for 30 and 31 May 2026 at the iconic Sepang International Circuit, the festival promises a high-octane weekend featuring an elite lineup of Asian superstars, including the largest K-pop showcase in the ASEAN region.
Securing a spot at the heart of the action has been streamlined through the iSavings Reward Campaign, running from 9 May 2026 to 18 May 2026. To participate, fans first decide on their preferred festival experience, selecting either a pair of Standard Passes with a S$5,000 deposit or the high-energy, nearer-to-the-stars Rockzone Passes with a S$8,282 deposit for their chosen day.
Once a tier is selected, customers can register by depositing the qualifying funds into an iSavings account via FAST or Links transfer. To validate their entry, customers must include the specific Comment Code, such as PALLIR1 for Day 1 Rockzone, within the funds transfer description. The qualifying balance must be maintained within the account for a six-month (182 days) earmarked period.
With only 88 pairs of tickets available for this exclusive campaign, the stakes are high. Allocation is limited to 22 pairs per day for each ticket category and will be awarded strictly on a first-come, first-served basis. Fans are encouraged to act quickly to ensure their savings work as hard as they do while securing a premier seat at the musical event of the year.
For full terms & conditions, and further details, please visit: www.hlbank.com.sg/AsiaTop2026
Hashtag: #HLBankSingapore
The issuer is solely responsible for the content of this announcement.
HL Bank Singapore
HL Bank Singapore is the Singapore branch of Hong Leong Bank Berhad, a leading digital-centric Malaysia-based financial services institution with a rooted heritage in the country spanning over 120 years. Operating under a Full Bank Licence in Singapore, HL Bank offers a comprehensive range of financial services to our business, retail and high networth customers through our 4 core business segments – Business & Corporate Banking, Personal Financial Services, Private Wealth Management and Global Markets.
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