Surprise! 9 Things more expensive than Insurance

Posted 16 November, 2015 by Clearly
in Stellar Guidance

You could have told me this earlier, Watson!

Today we debunk one of the oldest myths in the world: I do not have enough money to buy insurance.

Time and again, Singaporeans love to complain about the standard of living here in on our island, and that how it is simply not possible to carve out some budget for insurance (So expensive, how to buy? Next time lah)

Based on our comparison site, a 30 year old man buying a Term Insurance of 100 k sum assured for 30 years (definitely no slouch) has to shell out a princely sum of …


Per Year.

That’s inclusive of critical illness cover.

While some of us might think long and hard about spending $1 a day for insurance coverage, we might not even think twice when it comes to these 10 things that cost waaaay more:

1. Coffee

starbucks red cup

It’s colour isn’t the only controversial thing

There might be a furor over Starbuck’s red cup over this festive season (in the States only though. We love red) but few of us might notice that enjoying a daily cuppa amounts to $225 each month.

Equivalent Insurance Cover: 750 k

2. Gym Membership

148…149…150! That’s the amount of money I burn at the gym

While we whine about paying our policies, we have no problem shelling out $100 – $250 each month for a gym membership.

Equivalent Insurance Cover: 330 – 830 k

3. Movie Night

horror movie

Is that what we spend at the movies? Noooooo

Throngs of movie goers ensure the continued success of our cinema operators – and at $13 a seat on Fridays, it adds up to $52 a month. Don’t forget the snacks @ $8 a pop, and double that cost if you bring a partner (who watches movies alone?)

Equivalent Insurance Cover: 280 k – if you watch movies alone

4. Cable TV

korean drama

My korean is rusty, but pretty sure it reads: Misplaced Priorities

To keep up with the world / korean drama of your choice, sometimes it is necessary to pay extra for cable TV. Throw in CCTV, National Geographic , the Discovery Channel and the BPL – its no wonder people choose to part with $80 a month for it.

Equivalent Insurance Cover: 260 k

5. Cigarettes


Do you smell it too? Your insurance cover going up in smoke, that is

Too few smokers care to admit how much they spend on cigarettes. Easier to just light up, spend the next 2 minutes in bliss and not think about the cost. For those that are counting, each large pack can set you back by $12. Assuming 15 packs over the month, it works out to be $180 up in smoke every 30 days.

Equivalent Insurance Cover: 600 k (and smokers generally have to pay extra for Insurance)

6. Car Grooming

car grooming

You don’t really expect me to do it myself right?

Car lovers love the feeling of whizzing down the ECP with a freshly waxed car – and will think nothing of paying up to $200 or more a month for a grooming package. Meanwhile they scurry past Insurance roadshows faster than you can say “Term Insurance”.

Equivalent Insurance Cover: 660 k (more if you drive a bigger car)

7. Games


Fallout 4: Because its more fun to survive in a post apocalyptic world than the real one

It is a day and age that we are spoilt for choice when it comes to games. Console or PC? MOBA or FPS? Candy Crush or Clash of Clans? We don’t really have answers, but we know expenditure on games can reach $50 per month or more depending on frequency of play.

Equivalent Insurance Cover: 160 k

8. Gadgets

apple store

We can’t be seen carrying last season’s Ipad now, can we?

Ah, the never ending race to acquire stuff.

Ipad + Pencil? A must have.

Samsung Galaxy S6? its a steal for $988!

Sony just released A7R II? Its time for a new DSLR.

Judging by the long queue of cars to Singapore expo, we certainly have a penchant for gadgets and are willing to open our pocket books for just about any gizmo. Our estimate on gadget expenditure is about $800 a year (replacing a phone, camera, laptop, etc etc every other year)

Equivalent Insurance Cover: 220 k

9. Regret

I should have listened to that chap from Clearly Surely.

Our last item on the list cannot be quantified – when disaster strikes, it will definitely be too late to take any action. Start planning for your insurance cover today.

We hope to have proven that setting aside some money each month for Insurance does not mean a monumental sacrifice required on your part. The honest truth is that Life Insurance costs form such a small portion of your monthly expenditure that only minor adjustments are necessary to get yourself in a secure financial position.

Start today, start now – having a peace of mind and financial security is far more important than any frivolous purchase you may make.

Can you think of any other things that are more costly than Insurance? Share them with us in the comments below! aims to eradicate the knowledge gap between consumers and Life Insurance. Our Vision is that one day, every Man, Woman, and Child will be properly insured.

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