They earn more than the average Singaporean and, in fact, have hundreds of thousands of dollars to invest, yet most of them are under-insured.
A survey by United Overseas Bank Wealth Banking of 412 such 'rising rich' found that a quarter of them had no insurance at all, while half were under-insured by industry standards.
Only a fifth had adequate insurance.
The survey was conducted in December last year.
The rising rich, as defined by UOB, are those who have assets under management of between $100,000 and $350,000.
