Media OutReach
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.
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Sun Group debuts at SITF 2026 with exclusive Phu Quoc flight deals and a fresh vision for Vietnam tourism
A special highlight is Sun Group’s unveiling of its new development vision for Phu Quoc in the lead‑up to APEC 2027, presented directly to Korean partners and visitors.
From the first day of the fair, Sun Group’s booth has welcomed a steady stream of visitors. Throughout the four-day event, the booth has organized B2B and B2C networking activities, customer consultations, and introductions to tourism, resort, and aviation products. Interactive programs, including mini-games, souvenir giveaways, and tailored offers for the Korean market, have kept the atmosphere lively for hours, with a continuous flow of engaged visitors.
During SITF (June 4–7), travelers have the opportunity to receive a 20% discount on the base fare when booking Sun PhuQuoc Airways tickets via the airline’s website or app. The offer applies to the Korean market for one‑way or round‑trip journeys from Korea to Phu Quoc. Limited to 200 Economy Class discount codes, it is valid for flights from June 15 to October 24, 2026 (excluding peak periods as defined by the airline).
Visitors also have the chance to win attractive prizes through booth activities, including free round‑trip air tickets on the Seoul–Phu Quoc route (ICN–PQC) and resort vouchers at hotels within Sun Group’s ecosystem.
By combining destination promotion with airline incentives, Sun Group aims to further encourage South Korean tourists to choose Vietnam for their upcoming holidays, especially Phu Quoc, which is entering a new era of large‑scale investments in projects, products, and experiences all aimed at APEC 2027.
Hashtag: #SunGroup
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About Sun Group
Vietnam’s leading private economic group, Sun Group operates an integrated ecosystem spanning tourism, entertainment, hospitality, real estate, infrastructure, and aviation. Guided by the mission “Enhancing the beauty of the lands,” the Group shapes iconic destinations nationwide through its Sun World entertainment brand. In the aviation sector, Sun Group develops a hub-and-spoke model anchored by Phu Quoc, driven by strategic airport investments and Sun PhuQuoc Airways.
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Technology + Scenario + Supply Chain = A New Benchmark for Regional Zero-Carbon Smart Transportation
Wing Kai New Energy X QIJI Energy X C&D Hi-Tech
HONG KONG SAR – Media OutReach Newswire – 5 June 2026 – The 19th (2026) International Photovoltaic Power Generation and Smart Energy Exhibition & Conference (SNEC 2026) was grandly held from June 3 to 5, 2026, at the National Exhibition and Convention Center (Shanghai). Attracting over 3,000 exhibitors from 95 countries worldwide, the event stands as the largest and most influential professional grand gathering for the photovoltaic and energy storage sectors across Asia and globally.
During the exhibition, Mr. Yiu Wang Lee, Chairman of the Board of Wing Lee Development Construction Holdings Limited (“Wing Lee” or the “Group”, stock code: 9639.HK); Mr. Cai Huihui, General Manager of Wing Kai New Energy Technology Co., Limited (“Wing Kai New Energy”); Mr. Wang Yi, Key Account Manager of QIJI Energy; Mr. Xu Jun, Overseas Energy Storage Commercial Director of Contemporary Amperex Technology Co., Limited (CATL); and Mr. You Yuxian, ASEAN Regional Energy Storage Sales Director of CATL, jointly visited the exhibition booth of C&D Hi-Tech. The delegation engaged in in-depth discussions with the team led by General Manager Mr. Zhan Shengli, focusing on battery swapping station projects in Hong Kong and Southeast Asia. By integrating multi-party resources, the teams successfully finalized and signed a Strategic Cooperation Agreement.
Through this signing, the three parties will join forces to address and resolve the industry pain points of overseas markets regarding regulatory compliance, engineering infrastructure, and supply chain coordination. The collaboration represents a deep integration of QIJI Energy’s cutting-edge battery swapping solutions, Wing Kai New Energy’s localized infrastructure and operational capabilities across Hong Kong and Shenzhen, and C&D Hi-Tech’s robust global resource allocation strengths. Moving from single-project development to an ecosystem of mutual win-win, this partnership will significantly enhance the delivery efficiency of green energy across Hong Kong, Macau, and the Southeast Asian region, setting a brand-new benchmark for regional zero-carbon smart transportation.
As a subsidiary of Wing Lee, Wing Kai New Energy has been rooted in Hong Kong since its inception while radiating its presence globally, deeply cultivating sustainable clean energy solutions. Addressing the acute pain points in the Greater Bay Area and Southeast Asian markets, where rapid fluctuations in energy prices have led to surging cost pressures for logistics distribution enterprises, Wing Kai New Energy will focus on urban distribution logistics battery swapping businesses in the future. The company plans to integrate site resources, infrastructure, and operations to fill the gap in regional infrastructure. We firmly believe that this cooperation will effectively bridge the cross-border green energy eco-link, accelerate the construction of a green energy service network, and contribute solidly to the realization of the “dual carbon” goals. Meanwhile, we sincerely invite more partners to join the Zero-Carbon Smart Alliance to jointly advance sustainable development.
Hashtag: #WingLee
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About Wing Lee Development Construction Holdings Limited
Deeply rooted in Hong Kong, Wing Lee is an established contractor engaged in civil engineering, electrical and mechanical engineering, and new energy businesses, and has participated in various large-scale landmark projects in Hong Kong. The Group’s civil engineering business specialized in site formation waterworks as well as road and drainage works, while its electrical and mechanical engineering business specializes in power system-related projects and emergency maintenance works. In recent years, the Group has actively expanded into the new energy sector, undertaking solar photovoltaic projects, distributing various electric commercial vehicles and electric construction machinery, and engaging in the construction and subsequent maintenance of charging piles, battery swapping, recycling, and energy storage businesses. In 2025, Wing Lee Construction, together with SANY Group Co., Ltd. and CATL, among other industry giants, founded the “Zero-Carbon Smart Alliance” to develop full-industry-chain solutions for photovoltaics, energy storage, charging and battery swapping, and smart applications in green transportation.
The delegation of over 70 business and institutional leaders from Hong Kong and the Chinese Mainland is the largest and most diverse overseas mission led by the current term of the HKSAR Government so far.
Speaking to the media in Uzbekistan yesterday (June 4), Mr Lee set out the three main objectives of the visit: further explore emerging markets and lay the foundation for long-term economic and trade development; strengthen government-to-government (G2G) relationships and promote closer bilateral co-operation; and build a “hub-to-hub” model of co-operation.
He said the visit had been successful, yielding achievements in eight areas, including:
- Establishing high-level contacts and ties between the HKSAR Government and the Governments of Kazakhstan and Uzbekistan, and reaching consensus on co-operation in multiple areas;
- A total of 96 co-operation agreements and memoranda of understanding (MoUs) were reached during the visit (61 with Kazakhstan, 35 with Uzbekistan), involving specific amounts exceeding US$1.65 billion in total;
- The governments agreed to commence bilateral discussions on agreements in various areas;
- Deepening project matching and research collaboration between Hong Kong and Central Asian region in areas including finance, innovation and technology (I&T), and aviation;
- Demonstrating Hong Kong’s effective role as a platform for going global and achieving substantial results, with Hong Kong and Mainland enterprises joining forces in tapping new markets and bringing synergistic advantages into full play;
- Facilitating more convenient people-to-people exchanges by promoting direct flights, aviation and transport co-operation, and extensions to the mutual visa-free period;
- Promoting exchanges in education, talent and culture to further deepen people-to-people bonds; and
- Advancing a hub-to-hub co-operation model to open up broader room for co-operation between Hong Kong and the Central Asian region.
While in Tashkent (June 3-5), Mr Lee met with local leaders, government officials and business representatives to deepen co-operation between Hong Kong and Uzbekistan in areas including trade, investment, finance, I&T, and people-to-people exchanges.
Mr Lee held meetings with the President of Uzbekistan, Shavkat Miromonovich Mirziyoyev, his Advisor on Strategic Development, Sardor Umurzakov, the Prime Minister, Abdulla Nigmatovich Aripov, as well as the Deputy Prime Minister, Jamshid Khodjayev, to exchange views on furthering mutual co-operation.
Mr Lee highlighted that under the “one country, two systems” principle, Hong Kong enjoys both the China advantage and the global advantage. He said that Hong Kong would continue to play its roles as a “super connector” and a “super value-adder” to further deepen co-operation and exchanges with Uzbekistan on various fronts in line with Uzbekistan’s goal of achieving high-quality development.
Earlier (June 3), Mr Lee met with the Minister of Foreign Affairs of Uzbekistan, Bakhtiyor Saidov, after which they jointly witnessed an exchange of notes between the two places on a mutual visa-free arrangement, which would allow a visa-free period of 30 days for visitors from both sides.
“Moreover, we are glad to have initialed the Air Services Agreement with Uzbekistan, and look forward to launching direct passenger flights between the two places soon,” Mr Lee said, during a high-level business dinner (June 4). The Chief Executive pointed out that Hong Kong and Uzbekistan are important trade and investment gateways to their respective regions – the Asia-Pacific and Central Asia.
“It helps that we are all believers in the Belt and Road (B&R) Initiative, a modern expression of the ancient Silk Road spirit,” Mr Lee said. “Today, China is Uzbekistan’s largest trading partner, and the two countries work closely on major infrastructure and connectivity projects that are revitalising the Silk Road. Hong Kong is a pivotal player in the B&R Initiative, thanks to our world-class professional and financial services expertise.”
The delegation also toured the IT Park Uzbekistan and the Center for Islamic Civilization before concluding its visit in Tashkent.
Hashtag: #HongKong #BrandHongKong #CentralAsia #Kazakhstan #Uzbekistan
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