Singaporean living longer!

Written by Peter Lim Sep.30, 2009 in General Information

According to the Populations Trend 2009 report released by the Department of Statistics on Monday, a new-born here could expect to live up to 80.9 years, compared to 79.1 years in 2003.

Women could expect to live longer than men – up to 83.2 years versus 78.4 years for the latter.

Life expectancy for 65 year-olds has also improved.

The average 65-year-old Singaporean men and women can expect to live an average of 17.4 and 20.8 more years respectively, compared with 16.2 and 19.6 more years in 2003.

On the mortality trend, the report found while the total number of deaths in Singapore has risen, the crude death rate actually continues to decline.

There were 17,222 deaths in 2008, up from 17,140 in 2007.

The crude death rate has been slowly declining over the years, which reflects the growing middle-age population and increasing life-expetency of the elderly.

The crude death rate declined from 4.9 deaths per 1,000 residents in 1988 to 4.4 in 2008.

Fewer women from all age groups died between 1988 and 2008, compared to men.

Infant mortality rates in Singapore remain unchanged, with more baby girls surviving their first years than boys.

The infant mortality rate for females was 1.7 per 1,000 residents and 2.6 per for boys.

Source: http://www.straitstimes.com/Breaking%2BNews/Singapore/Story/STIStory_435409.html

Comment: Looking at such story, it makes me wonder whether do we have enough money to feed ourselves when we grow old. I guess it is time to re-look at our saving strategy we had for ourselves to make sure that money is working hard for us rather than the other way round.

From my insurance point of view, it also means that we all should be getting a limited pay insurance because with such a plan on hand, one need not worry about the fact that we live longer and have no insurance coverage. As the plan covers whole life with just limited payment of premium, it does makes an ideal plan for people these days. Even buying term may not solve the problem of outliving yourselves.

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